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Updated IASB work plan — Analysis (November 2020 meeting)

  • IFRS - IASB Image

Nov 20, 2020

On November 20, 2020, the International Accounting Standards Board (IASB) updated its work plan following its November 2020 meeting.

Below is an analysis of all changes made to the work plan since our last analysis on October 31, 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 January 2021 (previously December 2020)
  • Management commentary — the issuance of an exposure draft is now expected in the second quarter of 2021 (previously first half of 2021)
  • Rate-regulated activities — the issuance of an exposure draft is now expected in January 2021 (previously first quarter of 2021)

Maintenance projects

Research projects

  • Dynamic risk management — the feedback on the core model is expected to be discussed in the second quarter of 2021 (previously first half of 2021)
  • Extractive activities — a decision on the project direction is now expected in the first quarter of 2021 (previously first half of 2021)
  • Post-implementation review of IFRS 9 — newly added to the work plan; next step in the project will be the issuance of a request for information (no date given)

Other projects

  • IFRS Taxonomy Update — Amendments to IAS 1, IAS 8 and IFRS Practice Statement 2 — the issuance of a proposed IFRS Taxonomy Update is now expected in the first quarter of 2021 (previously December 2020)
  • IFRS Taxonomy Update — Common practice (IAS 19)the expected date for the issuance of a proposed IFRS Taxonomy Update has been dropped, however, the IASB announced in a press release that the proposed IFRS Taxonomy Update will be issued on 24 November 2020
  • IFRS Taxonomy Update — Interest Rate Benchmark Reform — Phase 2 — the feedback on the proposed IFRS Taxonomy Update has been discussed and a final IFRS Taxonomy Update is now expected in December 2020

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

Correction list for hyphenation

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