Updated IASB work plan — Analysis (June 2020 meeting)
Jun 26, 2020
On June 26, 2020, following the IASB's June 2020 meeting, we have analysed the IASB work plan to see what changes have resulted from the meeting and other developments since the work plan was last revised in May 2020.
Below is an analysis of all changes made to the work plan since our last analysis on May 25, 2020.
Standard-setting projects
- No changes
Maintenance projects
- Accounting Policy Changes (Amendments to IAS 8)— this project has been removed from the work plan as the Board decided not to continue with this project.
- Amendments to IFRS 17— this project has been removed from the work plan due to the issuance of the amendments.
- IFRS 16 and COVID-19— this project has been removed from the work plan due to the issuance of the amendments.
- Supply Chain Financing Arrangements — Reverse Factoring— the tentative agenda decision expected in the second half of 2020 in respect of this project has been included in the work plan.
- The Board decided not to adda project on the sale of a subsidiary to a customer to the work plan (the staff had recommended a narrow-scope amendment).
Research projects
- No changes.
Other projects
- IFRS Taxonomy update — Common Practice (IAS 19 Employee Benefits) — this project has been added to the work plan with a proposed IFRS taxonomy update expected in the fourth quarter of 2020.
- IFRS Taxonomy update — Covid-19-related rent concessions (Amendment to IFRS 16) — feedback on the proposed update is expected in July 2020.
- IFRS Taxonomy update — Interest rate benchmark reform — Phase 2 — this project has been added to the work plan with a proposed IFRS taxonomy update expected in the third quarter of 2020.
The revised IASB work plan is available on the Board’s website.