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Updated IASB work plan — Analysis

  • IFRS - IASB Image

Jan 19, 2017

On January 19, 2017, following its January 2017 meeting, the International Accounting Standards Board (IASB) updated its work plan. In particular, the new standard on insurance (IFRS 17) is now expected in May and no longer in March since the fatal flaw review revealed some small issues that the staff wants to lay before the Board before finalizing the draft. Also, following yesterday's decision to take a project on IFRS 9 and prepayment options onto the agenda, the IASB now announces that it expects to publish an exposure draft on the issue in April.

Below is an analysis of all changes made to the work plan since the last update in December 2016.

Research projects

Standard-setting and related projects

  • Disclosure initiative: Materiality (practice statement) — the expected publication of the practice statement has moved forward and is now given as "within 6 months".
  • Insurance contracts — the expected issuance of the IFRS has been delayed to May since the fatal flaw review revealed some small issues that the staff wants to lay before the Board before finalizing the draft.

Nar­row-scope amend­ments

  • Improvements to IFRS 8 resulting from the post-implementation review of IFRS 8 — the expected publication of an exposure draft is now expected in April.
  • Symmetric prepayment options — following yesterday's decision to take a related project onto the agenda, the IASB now announces that it expects to publish an exposure draft on the issue in April.
  • Annual improvements to IFRSs 2015-2017 — following the publication of an exposure draft of proposed amendments earlier this month, the project is now marked as being in consultation phase with a decision on the project direction expected "within 6 months".

Post-implementation reviews

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

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