Updated IASB and ISSB work plan — Analysis (September 2022)
Sep 26, 2022
On September 26, 2022, the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB) updated its work plan following its September 2022 meeting. Changes are numerous, many of them clarifications of expected timing.
Below is an analysis of all changes made to the work plan since our last analysis on July 25, 2022.
Standard-setting projects
- Climate-related disclosures — Feedback to the exposure draft will be discussed in December 2022 (previously Q4 2022)
- Contractual cash flow characteristics of financial assets — This project was moved from the maintenance agenda to the standard-setting agenda
- Disclosure initiative — Targeted standards-level review of disclosures — The IASB will now decide on the project direction in October 2022 (previously Q4 2022)
- General sustainability-related disclosures — Feedback to the exposure draft will be discussed in December 2022 (previously Q4 2022)
- Second comprehensive review of the IFRS for SMEs — After publishing the exposure draft of proposed amendments in September 2022, the next project step is now discussion of the feedback received in H1 2023
Maintenance projects
- Lease liability in a sale and leaseback — This project is still in the work plan, although it was completed by issuing final amendments in September 2022
- Non-current liabilities with covenants — Final amendments are now expected in November 2022 (previously Q4 2022)
- Supplier finance arrangements — A decision on the project direction is now expected in November 2022 (previously no date given)
Research projects
- Extractive activities — The work plan still notes that a decision on the project direction is expected in September 2022, while in fact the IASB decided to proceed with phases II and III of the project
- Goodwill and impairment — A decision on the project direction is now expected in November 2022 (previously Q4 2022)
- Post-implementation of IFRS 15 — A project newly added to the work plan; the next expected project step is a request for information to be published in H1 2023
Other projects
- IFRS accounting taxonomy update — Amendments to IAS 1 and IFRS 16 —A project newly added to the work plan; the next expected project step is a proposed taxonomy update in November 2022
- IFRS sustainability disclosure taxonomy — Feedback on the staff request for feedback will now be discussed in November 2022 (previously Q4 2022)
- Third agenda consultation — This project was removed from the work plan as the IASB concluded the agenda consultation by releasing a feedback statement in July 2022
The revised IASB work plan is available on the Board's website.