Michael Stewart and Gary Berchowitz give an overview of the issues discussed in the November 2011 IFRS Interpretations Committee meeting, including IAS 37 Provisions, Contingent Liabilities and Contingent Assets—Determining when to recognise a liability for levies, IAS 19 Employee Benefits—Applying the definition of termination benefits, IAS 38 Intangible Assets and IFRIC 12 Service Concession Arrangements—Selection of amortisation method, IFRIC 15 Agreements for the Construction of Real Estate—Clarification of the meaning of continuous transfer and IFRIC 12—Payments made by the operator in a service concession arrangement.