General remarks

On moving to the new website, the IASB made several changes to the pre­sen­ta­tion of the work plan:

• The new format has gone back to in­di­cat­ing exact timing - by in­di­cat­ing the half year, quarter or even month a de­vel­op­ment is expected to occur. This is much to be lauded, since it makes tracking de­vel­op­ments (and progress and delay) much easier for users.
• The new work plan has slightly changed cat­e­gories: stan­dard-set­ting projects, main­te­nance projects, research projects, and other projects. Taxonomy projects have become "other"; post-im­ple­men­ta­tion reviews are now "research".
• The IASB has split up the annual im­prove­ment process into in­di­vid­ual "projects". Although the idea is still to treat certain im­prove­ments through the annual im­prove­ments process, it can no longer be traced on the face of the work plan whether a project is part of the annual im­prove­ment process and which cycle it belongs to. The ex­pec­ta­tion is that the IASB wants to allow itself more flex­i­bil­ity in deciding which im­prove­ment goes into which cycle.
• The IASB has stopped dating its work plan and there is no longer a PDF version of the work plan available. There a many minor changes between Board meetings (down to spelling) and to report on every little change would distract from the big picture. The intention is therefore to continue to analyze changes on a monthly basis i.e.,after each meeting.

Below is an analysis of all changes made to the work plan since the last update in May 2017. For this analysis, changes have been ignored where the "within three months" to "after six months" clas­si­fi­ca­tion trans­lated smoothly into the new format of fixed dates.

Stan­dard-set­ting projects

• Dis­clo­sure ini­tia­tive — Ma­te­ri­al­ity — both, the exposure draft on the de­f­i­n­i­tion of ma­te­ri­al­ity and the practice statement on ma­te­ri­al­ity, are now expected in September 2017 (was: June 2017)
• Changes in accounting policies and estimates — an exposure draft is now expected in September 2017 (was: June 2017)

Main­te­nance projects

• De­f­i­n­i­tion of a business — this project was to see a decision on the project direction within 3 months and will now see final amend­ments in H1 2018
• Clar­i­fi­ca­tions arising from the post-im­ple­men­ta­tion review of IFRS 8 — this project was to see a decision on the project direction after 6 months, however, as the next project step a feedback statement on the exposure draft in Q4 2017 has been inserted
• IFRS 9 — Pre­pay­ment features with negative com­pen­sa­tion — this project was to see a decision on the project direction within 3 months and will now see final amend­ments in Q4 2017
• IAS 16 — Proceeds before intended use — a feedback statement on the exposure draft is expected in Q4 2017

Research projects

• Goodwill and im­pair­ment — this project was to see a decision on the project direction after 6 months and will now see a dis­cus­sion paper in H1 2018
• Post-im­ple­men­ta­tion review — IFRS 13 — this project is now con­sid­ered a research project
• Post-im­ple­men­ta­tion review — IFRS 10-12 — this project is no longer appears in the IASB work plan (was supposed to be initiated after 6 months)
• Dis­clo­sure ini­tia­tive — Prin­ci­ples of dis­clo­sure — this project was to see a decision on the project direction after 6 months and will now see a feedback statement on the dis­cus­sion paper in H1 2018

Other projects

• proposed taxonomy update regarding common practice in con­nec­tion with IFRS 13 — expected in H1 2018
• proposed taxonomy update on IFRS 17 — this project was to see a final update is expected within six months, however, as the next project step a feedback statement on the proposed update in Q4 2017 has been inserted

The above is a faithful com­par­i­son of the IASB work plan at May 18, 2017 and at June 28, 2017. For access to the current IASB work plan at any time, please click here.