Below is an analysis of all changes that were made to the work plan since our last analysis on April 12, 2019.

Standard-setting projects

• Primary financial statements — at this month's meeting the IASB decided that the next consultation document will be an exposure draft, not a discussion paper; the timing remains unchanged (H2 2019)

Maintenance projects

• IBOR reform and the effects on financial reporting — an exposure draft of proposed amendments was published on May 3, 2019; a first discussion of the feedback received is scheduled for Q3 2019
• Onerous Contracts — Cost of Fulfilling a Contract (Amendments to IAS 37) — at this month's meeting the IASB discussed the feedback received; the next step will now be a decision on the project direction (no date given)

Research projects

• No changes
  

Other projects

• Due Process Handbook Review — an exposure draft of proposed amendments was published on April 30, 2019; a first discussion of the feedback received is scheduled for Q4 2019

Known changes not reflected in the work plan update

The IASB has announced that it expects to publish an exposure draft Annual Improvements to IFRS Standards 2018–2020 on May 21, 2019. In the work plan the projects concerned are still noted as expecting an exposure draft in June 2019. The following projects are part of the annual improvements 2018-2020:

• Fees in the ‘10 per cent’ Test for Derecognition (Amendments to IFRS 9)
• Lease Incentives (Amendment to Illustrative Example 13 accompanying IFRS 16)
• Subsidiary as a First-time Adopter (Amendments to IFRS 1)
• Taxation in Fair Value Measurements (Amendments to IAS 41)

The revised IASB work plan is available on the Board's website.