Updated IASB and ISSB work plan — Analysis (October 2022)
Oct 25, 2022
On October 25, 2022, the International Accounting Standards Board (the Board) and the International Sustainability Standards Board (ISSB) updated its work plan following its October 2022 meeting.
Below is an analysis of all changes made to the work plan since our last analysis on September 26, 2022.
Standard-setting projects
- Climate-related disclosures — The next step in this project is now the issuance of a final IFRS Sustainability Disclosure Standard (no date given).
- Contractual cash flow characteristics of financial assets — This project is now part of the newly added maintenance project Amendments to the classification and measurement of financial instruments.
- Disclosure initiative — Targeted standards-level review of disclosures — The IASB decided not to continue with any part of the ED — a project summary is expected in the first quarter of 2023.
- General sustainability-related disclosures — The next step in this project is now the issuance of a final IFRS Sustainability Disclosure Standard (no date given).
Maintenance projects
- Amendments to the classification and measurement of financial instruments —This project has been newly added to the work plan. It responds to feedback received on the Post-implementation review of IFRS 9 — Classification and measurement and also incorporates the project on Contractual cash flow characteristics of financial assets. An exposure draft is expected in the first half of 2023.
- Lease liability in a sale and leaseback — This project has now been removed from work plan. The September 2022 work plan had still listed this project although it had been concluded by the issuance of final amendments.
- Non-current liabilities with covenants (Amendments to IAS 1) — Final amendments are now expected in October 2022 (previously November 2022).
Research projects
- Extractive activities — A decision on the direction of the project is now expected in first half of 2023 (previously September 2022).
- Post-implementation review of IFRS 9 — Classification and measurement — A feedback statement is now expected in December 2022 (previously Q4 2022).
Other projects
- IFRS taxonomy update — 2022 General Improvements and Common Practice — A proposed IFRS Accounting Taxonomy Update is now expected in November 2022 (previously no date given).
- ISSB consultation on agenda priorities — A request for information is now expected in December 2022 (previously Q4 2022).
The revised IASB and ISSB work plan is available on the Board's website.