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Updated IASB work plan — Analysis (December 2019)

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Dec 13, 2019

On December 13, 2019, the International Accounting Standards Board (the Board) updated its work plan following its December 2019 meeting.

Below is an analysis of all changes made to the work plan since our last analysis on November 25, 2019.

Standard-setting projects

  • No changes

Maintenance projects

  • 2019 comprehensive review of the IFRS for SMEs Standard — A request for information is now expected in January 2020 (formerly Q1 2020).
  • Amendments to IFRS 17, Insurance Contracts — A final amendment is now expected in H1 2020 (formerly Q2 2020).
  • Annual improvements (2018-2020 cycle) — All projects that are part of this cycle have now been aligned to say that final amendments are now expected in Q2 2020 (formerly some said Q2 2020 and some H1 2020); projects that belong to the annual improvement cycle are:
    • Fees in the ‘10 per cent’ test for derecognition of financial liabilities (Amendments to IFRS 9);
    • Lease incentives (amendments 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).
  • Disclosure initiative - Accounting policies — Comments on the Exposure Draft (ED) were due 29 November 2019; feedback on the ED is now expected in February 2020.
  • IBOR reform and its effects on financial reporting: phase 2 — An exposure draft is now expected in Q2 2020 (formerly H1 2020).
  • Onerous contracts - Cost of fulfilling a contract — A final amendment is now expected in H1 2020 (formerly H2 2020).
  • Updating a reference to the Conceptual Framework (amendments to IFRS 3) — A final amendment is now expected in Q2 2020 (previously no date given).

Research projects

Other projects

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

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