Question: How are Interpretations Committee interpretations (IFRICs) related to IFRS standards issued by the IASB? How are Interpretations Committee interpretations (IFRICs) related to IFRS standards issued by the IASB? IFRICs are entirely separate from IFRS standards. IFRICs are supplementary documents to IFRS standards. IFRICs have higher authority than IFRS standards. IFRICs are issued by a different organization.