IASB work plan update for March 2014
26 Mar 2014
Following its recent meeting, the International Accounting Standards Board (IASB) has updated its work plan. An exposure draft of the Conceptual Framework is expected in the fourth quarter of 2014, and the expected timing of the macro hedge accounting discussion paper has been extended to include the second quarter of this year. A number of other expected dates have been clarified, a new project added, and some new expected dates introduced.
Current status
The revised time table for the major projects is now as follows:
Project | Current status | Next project step | Expected timing |
---|---|---|---|
Redeliberations |
Exposure draft |
Q4 2014* |
|
Redeliberations |
Finalised IFRS |
Q2 2014 |
|
Research/deliberations |
Discussion paper |
Q1 or Q2 2014* |
|
Financial instruments — Limited reconsideration of IFRS 9 (classification and measurement) |
Redeliberations |
Finalised IFRS |
Q2 2014 |
Re-exposure |
Redeliberations |
Q1 2014 |
|
Re-exposure |
Redeliberations |
Q1 2014 |
|
Research/deliberations |
Discussion paper |
Q2 2014 |
|
Redeliberations |
Finalised IFRS |
Q2 2014 |
* Indicates a change since the prior work plan update.
Changes concerning narrow scope projects are:
-
IFRS 11 — Acquisition of an interest in a joint operation — Target date for the final standard has been moved to Q2 2014 (previously Q1 2014);
-
IAS 41 — Bearer biological assets — Target date for a final standard has been set for Q2 2014;
- IFRS 10/IAS 28 — Investment entity amendments — Project to clarify the accounting for interests in investment entities and applying the consolidation exemption added to the agenda, an ED is expected in Q2 2014; and
- IAS 27 — Equity method in separate financial statements — Redeliberations have been moved from Q1 to Q2 of 2014.
Click for the IASB work plan dated 26 March 2014 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.