IASB updates work plan
Jun 23, 2016
On June 23, 2016, the International Accounting Standards Board (IASB) released its updated work plan. As per this updated work plan the EDs on the definition of a business and on the remeasurement of previously held interests are expected to be released next week.
Changes to the work plan include:
Major projects
- No changes made to major projects.
Implementation projects
- Annual Improvements (2015-2017): A decision on the direction of the project is now expected within 3 months.
- Remeasurement at a Plan Amendment, Curtailment or Settlement / Availability of a Refund of a Surplus from a Defined Benefit Plan: A decision on the direction of the project is now expected within 3 months.
- Draft IFRIC Interpretation — Uncertainty over Income Tax Treatment: A decision on the direction of the project is now expected within 3 months.
- Draft IFRIC Interpretation — Foreign Currency Transactions and Advance Consideration: A final interpretation is now expected within 6 months.
In addition, the work plan indicates that the exposure drafts on the definition of a business and on the remeasurement of previously held interests are expected to be released next week.
The revised IASB's work plan is available on the IASB's website.
