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

• Goodwill and impairment (1–9): The ASAF discussed the initial feedback on the discussion paper from their stakeholders, and how that feedback compared to what the Board has heard so far. In addition, the ASAF members outlined their plans for outreach and fieldwork to stimulate feedback to the discussion paper.
• Business combinations under common control (10–15): The ASAF was given an update on the outreach plans for the forthcoming discussion paper. The ASAF members provided feedback on the proposed focus in the outreach, stakeholder events in their jurisdictions, and on how to facilitate effective stakeholder engagement.
• Conceptual Framework for Financial Reporting (16–19): The FASB provided an overview of its proposed Chapter 4 Elements of Financial Statements of FASB Concepts Statement No. 8 Conceptual Framework for Financial Reporting.
• Update and agenda planning (20–23): The ASAF members discussed the Board’s current work plan and planned topics for the December 2020 ASAF meeting.

Review the full summary of the meeting on the IASB's website.

Dr. Barckow, currently the President of the Accounting Standards Committee of Germany (ACSG), will succeed Hans Hoogervorst on his retirement as chair of the IASB at the end of June 2021.

Dr. Barckow, a former Deloitte Partner, has been an active participant in numerous advisory bodies to the IFRS Foundation and the IASB, including membership of the IASB’s Accounting Standards Advisory Forum (ASAF) and the IFRS Advisory Council, and is a highly recognized expert on IFRSs at national, European and international level. He will step down from all his present positions in order to join the IASB.

Review the press release on the IASB's website.

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

• Accounting policies and accounting estimates (Amendments to IAS 8) — the issuance of final amendments is now expected in the first quarter of 2021 (previously December 2020)
• Deferred tax related to assets and liabilities arising from a single transaction — the issuance of final amendments is now expected in the second quarter of 2021 (previously no date given)
• Disclosure initiative — Accounting policies — the issuance of final amendments is now expected in the first quarter of 2021 (previously December 2020)

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.