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March 2015

IASB issues work plan update

Mar 26, 2015

On March 26, 2015, following its March meeting, the International Accounting Standards Board (IASB) has published a new work plan. We summarize the changes for you, which also included changes the IASB made to the February 24 work plan after it was published. Most notable changes are delays in the Conceptual Framework project and in the Principles of disclosure project as well as a new project on Clarifications to IFRS 15.

Minor updates regarding the implementation projects (deliberations continuing or moved slightly) affect:
  • IAS 1 — Classification of liabilities, IFRS 13 — Unit of account, and
  • IAS 12 — Recognition of deferred tax assets for unrealized losses.
In addition, a new project Clarifications to IFRS 15: Issues emerging from TRG discussions has been added to the IASB's work plan.

As regards research projects, board discussions on Disclosure initiative — Disclosure review will extend into the second quarter of 2015 now. Also, new projects have tentatively been introduced on the definition of a business and goodwill.

The revised IASB work plan (dated March 24, 2015) is available on the IASB's website.

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