Updated IASB work plan — Analysis
Mar 23, 2018
On March 23, 2018, the International Accounting Standards Board (the Board) updated its work plan following its March 2018 meeting.
Below is an analysis of all changes made to the work plan since our last analysis on February 23, 2018.
Standard-setting project
- Conceptual Framework — The revised framework is to be expected next week.
Maintenance projects
- Accounting policies and accounting estimates (amendments to IAS 8) — After discussion at the March IASB meeting, the next milestone has changed from "exposure draft feedback" to "decide project direction". No date has been given.
- Accounting policy changes (amendments to IAS 8) — the work plan states "March 2018" (unchanged entry) and a separate communication confirms that an exposure draft will be published on March 27, 2018.
- Definition of a business (amendments to IFRS 3) — An IFRS amendment is expected in June 2018 (previously set to Q2 2018).
- Disclosure initiative — Definition of material (amendments to IAS 1 and IAS 8) — this project has been changed from "standard-setting" to "maintenance". Exposure draft feedback is still expected in April 2018.
- Disclosure initiative — Targeted standards-level review of disclosures — newly added to the work plan. The Board will decide project direction in June 2018.
- Improvements to IFRS 8 Operating Segments (amendments to IFRS 8 and IAS 34) — The Board discussed this topic at its March meeting. A feedback statement is now expected in H2 2018.
Research projects
- Business combinations under common control — A discussion paper is expected in H1 2019.
- Disclosure initiative — Principles of disclosure — After this topic was discussed at the March IASB meeting, the next milestone on the work plan was changed from "decide project direction" to "discuss remaining issues" in June 2018.
- Discount rates — Research summary is expected in June 2018.
- Financial instruments with characteristics of equity — A discussion paper is expected in June 2018.
- Post-implementation review of IFRS 13 Fair Value Measurement — After a discussion at its March meeting, the IASB added an expected date of H2 2018 for its feedback statement.
- Share-based payment — Research summary is expected in June 2018.
Other projects
- IFRS Taxonomy Update—2017 Annual Improvements — The final update was removed from the IASB’s work plan, as the 2018 IFRS Taxonomy was issued on March 16, 2018.
- IFRS Taxonomy Update — Common Practice (IFRS 13) — A proposed updated is expected in June 2018.
- IFRS Taxonomy Update — Prepayment features with negative compensation (amendments to IFRS 9) — This was removed from the IASB’s work plan, as the Update was published on March 16, 2018.
The revised IASB work plan is available on the Board's website.