IASB plans for releasing final Standards
Sep 24, 2003
The IASB is committed to providing a 'stable platform' for the transition to IFRS in Europe in 2005. 'Stable platform' means issuing, by 31 March 2004, all of the new and revised Standards that will be required for companies adopting IFRS in 2005, with no further changes until after 2005. At its meeting on 22 September 2003 with representatives of the accounting standard setting bodies in 40 countries, the IASB announced the following plans for releasing various Standards currently under development:IASB's Publications Programme for the 2005 "Stable Platform" Fourth Quarter 2003: Improvements – 10 revised IAS by 31 October and 2 more revised IAS by 30 November Amendments to IAS 32 and IAS 39 – by 30 November (without the proposed portfolio hedging amendments) Extractive Industries Exposure Draft – by 31 October First Quarter 2004 (all likely in March 2004): Share-based payment Business Combinations Phase I – 3 Standards Insurance Contracts Phase I Portfolio Hedging Amendments to IAS 39 Asset Disposals and Discontinued Operations The Board also announced that each of its final Standards and Interpretations will be made available on its Website without charge (not including basis for conclusions and implementation guidance).