Updated IASB and ISSB work plan — Analysis (December 2023)
Dec 18, 2023
Following the IASB's and ISSB's December 2023 meetings, we have analysed the work plan on the IFRS Foundation website to see what changes have resulted from the meetings and other developments since the work plan was last revised in November 2023.
Below is an analysis of all changes made to the work plan since our last analysis on November 20, 2023
Standard-setting projects
- Financial Instruments with Characteristics of Equity — This project is now in the exposure draft feedback stage which is expected to be completed in Q1 2024.
Maintenance projects
- Amendments to the Classification and Measurement of Financial Instruments — Final amendments are now expected in Q2 2024 (previously H1 2024)
- Annual Improvements to IFRS Accounting Standards — The following projects will have feedback discussions on their exposure draft in Q1 2024 (previously January 2024):
- Cost Method (Amendments to IAS 7)
- Derecognition of Lease Liabilities (Amendments to IFRS 9)
- Determination of a ‘De Facto Agent’ (Amendments to IFRS 10)
- Disclosure of Deferred Difference between Fair Value and Transaction Price (Amendments to Guidance on implementing IFRS 7)
- Gain or Loss on Derecognition (Amendments to IFRS 7)
- Hedge Accounting by a First-time Adopter (Amendments to IFRS 1)
- Introduction and Credit Risk Disclosures (Amendments to Guidance on implementing IFRS 7)
- Transaction Price (Amendments to IFRS 9)
- Climate-related and Other Uncertainties in the Financial Statements — A direction on the project is now expected in Q2 2024 (previously Q1 2024)
- Power Purchase Agreements — An exposure draft is expected in Q2 2024
- Provisions — Targeted Improvements — An exposure draft is expected in H2 2024.
Research projects
- Extractive Activities — This project is no longer in the work plan.
Other projects
- IFRS Accounting Taxonomy Update — Common Practice (Financial Instruments) and General Improvements — Feedback discussions on the proposed IFRS Taxonomy Update are expected in February 2024 (previously Q1 2024)
- IFRS Accounting Taxonomy Update — Primary Financial Statements — A proposed IFRS Taxonomy update is now expected in Q2 2024 (previously H1 2024)
- IFRS Accounting Taxonomy Update — Subsidiaries without Public Accountability: Disclosures and Amendments to IFRS 7 and IFRS 9 — This project is added to the work plan with a proposed IFRS Taxonomy update expected in H2 2024
- IFRS Sustainability Disclosure Taxonomy — The issuance of an IFRS Sustainability Disclosure Taxonomy is expected in Q2 2024
The above is a faithful comparison of the IASB and ISSB work plan on November 20, 2023 and December 18, 2023.
For access to the current work plan at any time, please click here.