October 2020

Short video on the Trustee's sustainability reporting consultation

Oct 15, 2020

On October 15, 2020, the IFRS Foundation released a short video with the Chair of the Trustees, Erkki Liikanen, explaining why the Trustees are consulting on sustainability reporting and what questions they are asking.

The Trustee's published the consultation paper on September 30, 2020. Comments are requested by December 31, 2020.

View the video (just over three minutes long) on YouTube.

Updated IASB work plan — Analysis (October 2020 meeting)

Oct 31, 2020

On October 31, 2020, the International Accounting Standards Board (IASB) updated its work plan. Following the IASB's October 2020 meeting, we have analyzed the IASB work plan to see what changes have resulted from the meeting and other developments since the work plan was last revised in September 2020.

Below is an analysis of all changes made to the work plan since our last analysis on September 28, 2020.

Standard-setting projects

  • Disclosure initiative — Subsidiaries that are SMEs — the decision of whether to issue a discussion paper or an exposure draft is now expected in December 2020 (previously fourth quarter of 2020)
  • Management commentary — the issuance of an exposure draft is now expected in the first half of 2021 (previously first quarter of 2021)
  • Primary financial statements — the review of the feedback to the exposure draft is now expected in December 2020 (previously fourth quarter of 2020)

Maintenance projects

Research projects

Other projects

  • 2020 Agenda Consultation — the issuance of a request for information is now expected in the first quarter of 2021 (previously first half of 2021)
  • IFRS Taxonomy Update — 2020 General Improvements and Common Practice — a proposed IFRS Taxonomy Update was published on 29 October 2020 and the feedback is expected to be discussed in the first quarter of 2021
  • IFRS Taxonomy Update — Amendments to IAS 1, IAS 8 and IFRS Practice Statement 2 — this project has been added to the work plan and a proposed IFRS Taxonomy Update is expected in December 2020
  • IFRS Taxonomy Update — Amendments to IFRS 17, IFRS 4 and IAS 16the feedback on the proposed IFRS Taxonomy Update has been discussed and a final IFRS Taxonomy Update is expected in the first quarter of 2021
  • IFRS Taxonomy Update — Interest Rate Benchmark Reform — Phase 2 — the feedback on the proposed IFRS Taxonomy Update was expected to be discussed in October 2020, however, the date entry has been removed
  • Sustainability reporting — newly added to the work plan; the feedback on the Trustees' consultation paper is expected to be discussed in December 2020 (although the consultation period does not end until 31 December 2020)

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

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.