Updated IASB work plan — Analysis
Nov 17, 2018
On November 16, 2018, the International Accounting Standards Board (the Board) updated its work plan following its November 2018 meeting. A project on IFRS 17 amendments is still missing from the work plan although the IASB has begun discussing possible amendments to IFRS 17, "Insurance Contracts" and has already tentatively decided to defer the effective date of the standard by one year.
Below is an analysis of all changes that were made to the work plan since our last analysis on October 26, 2018.
Standard-setting projects
- Primary financial statements — a discussion paper or exposure draft is now expected in the second half of 2019 (was: first half of 2019)
Maintenance projects
- Deferred tax related to assets and liabilities arising from a single transaction (Amendments to IAS 12) — newly added to the work plan; an exposure draft is expected in the first half of 2019
- Disclosure Initiative — Definition of Material (Amendments to IAS 1 and IAS 8) — removed from the work plan as final amendments were published on October 31, 2018
- Updating a Reference to the Conceptual Framework (Amendments to IFRS 3) — at its November meeting, the IASB decided to move forward with amendments, so the next project step is now an exposure draft (no date given)
Research projects
- Financial instruments with characteristics of equity — feedback on the discussion paper is now expected in the first quarter of 2019 (was: first half of 2019)
- Share-based payment — removed from the work plan as a research summary was published on October 31, 2018
Other projects
- IFRS Taxonomy update — Common Practice (IFRS 13) — an analysis of the feedback received is now expected in January 2019 (was: first quarter of 2019)
- Revisions to the Preface to IFRSs — newly added to the work plan; finalized wording is expected in December 2018
The revised IASB work plan is available on the Board's website.