IASB updates work plan
24 Sep 2016
Following its September 2016 meeting, the IASB has updated its work plan. Of the progress or slippage that can be traced the most noticeable is the expected point of time the final standard on insurance contracts will be published: March 2017.
Changes to the work plan include:
Major projects
- Insurance contracts: A final standard is now expected in March 2017
Implementation projects
- Disclosure initiative — Changes in accounting policies and estimates: Updated to indicate that the staff is currently drafting the ED
- IFRS 3 — Definition of a business and IFRS 3/IFRS 11 — Remeasurement of previously held interests: Updated to indicate that a decision on the direction of the joint projects is now expected within 6 months; previously it was after 6 months
- IAS 21 — Foreign currency transactions and advance consideration: A final interpretation is now expected in December 2016
- IAS 40 — Transfers of investment property: Final amendments are now expected in December 2016
- IAS 12 — Accounting for uncertainties in income taxes: A final interpretation is now expected "after 6 months"
- Annual Improvements (2014-2016): Final amendments are now expected in December 2016
Research projects
- Disclosure initiative — Principles of disclosure: A discussion paper is now expected in December 2016
- Primary financial statements: A decision on the project scope is expected "within 3 months"
- IFRS 2 — Research project on share-based payments: A summary of the research results so far is expected "within 3 months", there will be no further work on the project
Post-implementation reviews
- A post-implementation review of IFRS 13 Fair Value Measurement has been initiated. A decision on the project direction is expected "within 6 months".
The revised IASB work plan is available on the IASB's website.
Related Topics
- IAS 12 — Accounting for uncertainties in income taxes
- Disclosure initiative — Principles of disclosure
- Primary financial statements
- Changes in accounting policies and estimates
- IAS 21 — Foreign currency transactions and advance consideration
- IAS 40 — Transfers of investment property
- IFRS 3 — Definition of a business
- IFRS 3/IFRS 11 — Remeasurement of previously held interests
- IFRS 2 — Research project on share-based payments
- Insurance contracts — Comprehensive project
- Annual improvements — 2014-2016 cycle