Updated IASB work plan — Analysis (April 2020 regular meeting)
Apr 24, 2020
On April 24, 2020, the International Accounting Standards Board (the Board) updated its work plan following its April 2020 regular meeting.
Below is an analysis of all changes made to the work plan since our last analysis on April 18, 2020.
Standard-setting projects
- Disclosure initiative — Subsidiaries that are SMEs — The Board will decide whether to publish a discussion paper or an exposure draft as next step in this project in the fourth quarter of 2020 (previously no date given)
Maintenance projects
- Accounting policy changes — The Board will decide on the future project direction in June 2020 (previously May 2020)
- Classification of liabilities — Effective date — A project newly added to the work plan to defer the effective date effective date of the January 2020 amendments to IAS 1 to 2023; an exposure draft is expected in May 2020
- Deferred tax related to assets and liabilities arising from a single transaction — The Board was expecting to discuss exposure draft feedback in June 2020; the entry has now been changed to a decision of the future project direction (no date given)
- IBOR reform and its effects on financial reporting — Phase 2 — Discussion of the feedback on the April 2020 exposure draft is now expected to occur in June 2020 (previously third quarter of 2020)
- IFRS 16 and COVID-19 — Feedback on the exposure draft published earlier today is expected to be discussed in May 2020
- Lease liability in a sale and leaseback — A project newly added to the work plan; an exposure draft is expected in the third quarter of 2020
Research projects
- Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12 — the entry has been changed from research review to request for information; the date remains unchanged as fourth quarter of 2020
Other projects
- Due Process Handbook review — The revised handbook is now expected in June 2020 (previously April 2020)
The revised IASB work plan is available on the Board's website.