The following is a summary of the revised work plan:

• Financial instruments:
  • Effective date of IFRS 9 - expected finalisation by end of calendar 2011
  • Impairment - confirmation of re-exposure, now due in the first half of 2012 (deferred from possible issue in Q4 2011)
  • Macro hedge accounting - an exposure draft on macro hedge accounting now due in first half of 2012 (deferred from possible issue in Q4 2011), finalisation of general hedge accounting project remains first half of 2012
  • General hedge accounting - an exposure draft on macro hedge accounting now due in first half of 2012 (deferred from possible issue in Q4 2011), finalisation of general hedge accounting project remains first half of 2012
  • Offsetting - finalised amendments to IFRS 7 and IAS 32 remain expected by end of 2011
• Other core projects – no changes to expected timing for:
  • Leases - re-exposure in first half of 2012, finalised IFRS in the second half of 2012)
  • Revenue recognition - re-exposure in calendar 2011, finalised IFRS in the second half of 2012
  • Insurance contracts - review draft or re-exposure in the first half of 2012, no target date set for a finalised IFRS
• Post-implementation reviews – the IASB has announced indicative timing for the following reviews:
  • IFRS 8 Operating Segments - review initiated in 2011, target completion in 2012
  • IFRS 3 Business Combinations - review to be initiated in 2012
• Agenda Consultation - decisions on the agenda expected to be made in 2012
• Other projects - no updates in relation to annual improvements (although the 2009 annual improvements are expected to be finalised in the first half of 2012), IFRS 1 amendments for government loans, or the exemption from consolidation for investment entities.

Click for IASB work plan as of 31 October (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.