IASB Agenda Consultation 2015 - IASB

Date recorded:

At its meeting on July 18-19, 2016, the IASB confirmed its tentative decision, made originally in May 2016, that the focus of its activities should now move from transaction-specific standards-level projects to reflect a greater emphasis on: (a) supporting the implementation of IFRS Standards and their consistent application; (b) standard-setting that enhances consistency between individual Standards and the Conceptual Framework, and builds on the revised Conceptual Framework; (c) promoting better communication in financial reporting; and (d) keeping the research program realistic and achievable.  The Board also confirmed its tentative decision, made originally at its May 2016 meeting, not to include in its work plan and research pipeline any of the areas identified on pages 8–10 of the Report and Feedback Statement Post-implementation Review of IFRS 3 Business Combinations, other than work on its projects relating to Goodwill and Impairment and the Definition of a Business. On the basis of the above decisions, all members of the Board present approved the IASB Work Plan dated July 20, 2016. At its September 2016 meeting, the Board will discuss draft material for inclusion in a Feedback Statement on the 2015 Agenda Consultation. The Board expects to approve the Feedback Statement in October 2016, following consideration by the Trustees of the IFRS Foundation.

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