Updated IASB work plan — Analysis
Oct 26, 2018
On October 26, 2018, the International Accounting Standards Board (the Board) updated its work plan following its October 2018 meeting. Missing from the work plan is the fact that the Board has begun discussing possible amendments to IFRS 17, "Insurance Contracts" and plans to continue these discussions in the next months. Otherwise, changes to the work plan are few.
During its October meeting, the Board discussed the criteria the IASB® staff have developed for the Board to apply in assessing whether the concerns/issues identified by the staff warrants considering an amendment to IFRS 17. In a podcast, IASB member Darrel Scott noted that a decision is expected in 1-2 months. This is not reflected in the updated work plan yet.
Below is an analysis of all changes that were made to the work plan since our last analysis on September 25, 2018.
Maintenance projects
- Accounting Policies and Accounting Estimates (Amendments to IAS 8) — A decision on the project direction is now expected in December 2018 (was: October 2018)
- Definition of a business (Amendments to IFRS 3) — As the amendments were published on October 22, 2018, this has been removed from the work plan
Research projects
- Disclosure initiative — Principles of disclosure — A project summary is now expected in the first quarter of 2019 (no date given before)
Other projects
- IFRS Taxonomy update — 2018 general improvements — A proposed update is expected in December 2018 (was: fourth quarter of 2018)
The revised IASB work plan is available on the Board's website.