IASB updates work plan
Feb 19, 2016
On February 19, 2016, following its February 2016 meeting, the International Accounting Standards Board (IASB) released an updated work plan.
The Conceptual Framework project is now in the analysis stage (previously in public consultation). The Disclosure initiative — principles of disclosure project is now in the drafting discussion paper stage (previously in analysis).
Updates regarding the implementation projects are:
- Annual improvements 2014-2016 — currently in analysis stage (previously drafting exposure draft stage).
- Annual improvements 2015-2017 — exposure draft is no longer expected after six month, instead the Board will decide the direction of the project within the next six months.
- Applying IFRS 9 with IFRS 4 — currently in the analysis stage and the direction of the project will be determined within 3 months.
- Clarifications to IFRS 8 arising from the post-implementation review — exposure draft issuance date is narrowed to May 2016.
- Clarifications of classification and measurement of share-based payment transactions — Standard issuance date is narrowed to May 2016.
- Clarifications to IFRS 15: Issues emerging from TRG discussions — Standard issuance date is narrowed to March/April 2016.
- Definition of a business — exposure draft issuance date is narrowed to May 2016.
- Disclosure initiative — amendments to IAS 7 is no longer in the work plan since standard has been issued on 29 January 2016.
- Remeasurement of previously held interests — obtaining control or joint control in a joint operation that constitutes a business — exposure draft is narrowed to May 2016.
The revised IASB work plan is available on the IASB's website.