IASB updates work plan
May 20, 2016
On May 20, 2016, the International Accounting Standards Board (IASB) released its updated work plan.
Changes to the work plan include:
Major projects
- No changes made to major projects.
Implementation projects
- Annual Improvements (2014-2016): Updated to indicate that a decision on the direction of the project is now expected within 3 months.
- Transfer of Investment Property: Updated to indicate that a final standard is expected within 6 months.
- Draft IFRIC Interpretation — Foreign Currency Transactions and Advance Consideration: Updated to indicate that a final interpretation is expected after 6 months.
In addition, the work plan has updated the details of the primary financial statements, income taxes, and share-based payment (where the IASB has decided not to perform any further research on this topic or to publish a formal consultation document) research projects and indicated that a feedback statement on the 2015 agenda consultation is expected within 6 months.
The revised IASB work plan is available on the IASB's Web site.