The topics covered during the meeting were the following (numbers in brackets are ref­er­ences to the cor­re­spond­ing para­graphs of the summary):

• Financial instruments with characteristics of equity (1–7): The ASAF discussed the various project alternatives and were supportive of the IASB’s decision to make clarifying amendments to IAS 32. Several members also expressed that a fundamental review to develop a new approach to distinguishing financial liabilities from equity is warranted.
• Dynamic risk management (8–16): The ASAF was given an update on the dynamic risk management project and provided feedback on how to perform an outreach on the core version of the DRM model.
• IBOR reform and its effects on financial reporting (17–22): The ASAF was given an update on the IBOR reform project and provided feedback on potential accounting issues to be considered during the project’s Phase II.
• Disclosure initiative — Accounting policy disclosure (23–30):  The ASAF provided preliminary views on Exposure Draft, Disclosure of Accounting Policies.
• Agenda planning and 2020 Agenda Consultation (31–38) — The ASAF discussed the proposed agenda for its December 2019 meeting and the Request for Information for the 2020 Agenda Consultation.
• Accounting policies and accounting estimates (39–43): The ASAF discussed KASB’s research project A Revisit to the Definition of Accounting Estimates.

Review the full summary on the IASB's website.

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

Standard-setting projects

• No changes
  

Maintenance projects

• Accounting policies and accounting estimates — the IASB decided to issue an IFRS amendment (no date given)
• Amendments to IFRS 17 — final amendments are expected in Q2 2020
• Classification of liabilities as current or non-current — final amendments are now expected in January 2020 (previously Q1 2020)
• Deferred tax related to assets and liabilities arising from a single transaction — exposure draft feedback is now expected in Q1 2020 (previously no date given)
• Disclosure initiative — Targeted standards-level review of disclosures — an exposure draft is now expected in H2 2020 (previously no date given)
• Annual improvements to IFRSs 2018–2020 — the IASB discussed the feedback to the exposure draft and final amendments are expected in Q2 2020 on the following sub-projects:
  
  • Fees in the ‘10 per cent’ test for derecognition of financial liabilities
  • Lease incentives
  • Subsidiary as a first-time adopter
  • Taxation in fair value measurements
• IBOR reform and its effects on financial reporting — Phase 2 — an exposure draft is now expected in H1 2020 (previously no date given)
• Lack of exchangeability — newly added to the work plan and marked as "work in progress"
• Updating a reference to the conceptual framework — the IASB discussed the feedback to the exposure draft and will issue final amendments (no date given)

Research projects

• Dynamic risk management — core model outreach is planned for H1 2020
• Financial instruments with characteristics of equity — the project direction will now be decided in H2 2020 (previously Q1 2020)
• Pensions benefits that depend on asset returns — a research review is now expected in H2 2020 (previously December 2019)
• Post-implementation review of IFRS 10, IFRS 11 and IFRS 12 — there is no longer a dtate given for the research review (previously Q1 2020)

Other projects

• Due Process Handbook review — exposure draft feedback will now be discussed in December 2019 (previously October 2019)

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