Third Agenda Consultation – International Accounting Standards Board

Date recorded:

At its meeting on February 21-24, 2022, the IASB met (i) to begin discussing financial reporting issues on the IASB’s work plan; and (ii) to discuss and decide the strategic direction and balance of the IASB’s activities from 2022 to 2026. The IASB decided not to reprioritize projects on its current work plan, and will continue working on those projects. With respect to its activities from 2022 to 2026, the IASB decided to begin no new activities within the current scope of its work. The IASB also decided to leave its current level of focus on its main activities largely unchanged but to: (a) slightly decrease the current level of focus on new Accounting Standards and major amendments to Accounting Standards; (b) slightly increase the current level of focus on digital financial reporting; and (c) slightly increase the current level of focus on understandability and accessibility of Accounting Standards, which will indirectly support consistent application of Accounting Standards. The IASB will discuss and make decisions on any new financial reporting issues to be added to the IASB’s work plan for 2022 to 2026 at a future meeting.

Review the IASB Update and podcast on the Board's Web site.

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