Updated IASB and ISSB work plan — Analysis (April 2023)
May 02, 2023
Following the IASB's and ISSB's April 2023 meetings, we have analyzed the work plan on the IFRS Foundation website to see what changes have resulted from the meetings and other developments since the work plan was last revised in March 2023.
Below is an analysis of all changes made to the work plan since our last analysis on March 27, 2023.
- Climate-related disclosures — The IFRS Sustainability Disclosure Standard is now expected in June 2023 (previously Q2 2023).
- Equity Method — This project was moved from the research agenda to the standard-setting agenda and is now in the exposure draft phase, no expected date given.
- Financial Instruments with Characteristics of Equity — An expected date for the exposure draft is no longer available (previously H2 2023).
- General Sustainability-related Disclosures — The IFRS Sustainability Disclosure Standard is expected in June 2023 (previously Q2 2023).
- Second Comprehensive Review of the IFRS for SMEs Accounting Standard — The feedback on the exposure draft is now expected in June 2023 (previously Q2 2023).
Maintenance projects
- Amendments to the classification and measurement of financial instruments — Feedback on the exposure draft is now expected in Q3 2023 (previously H2 2023).
- Amendments to the IFRS for SMEs Accounting Standard — International Tax Reform — Pillar Two Model Rules — This project has been added to the work plan with an exposure draft expected in June 2023.
- Annual Improvements to IFRS Accounting Standards — Six projects have been added to the work plan with an exposure draft expected in Q3 2023:
- Cost Method (Amendments to IAS 7)
- Credit Risk Disclosures (Amendments to Illustrative Examples accompanying IFRS 7)
- Determination of a ‘De Facto Agent’ (Amendments to IFRS 10)
- Gain or Loss on Derecognition (Amendments to IFRS 7)
- Hedge Accounting by a First-Time Adopter (Amendments to IFRS 1)
- Transaction Price (Amendments to IFRS 9).
- International Tax Reform — Pillar Two Model Rules — The IASB considered the feedback received and will now publish a final amendment in May 2023.
- Lack of Exchangeability (Amendments to IAS 21) — The IFRS Accounting Standard amendment is now expected in July 2023 (previously Q3 2023).
Research projects
- Extractive Activities — The decision on the project direction is expected in July 2023 (previously Q3 2023).
- Post-implementation Review of IFRS 15: Revenue from Contracts with Customers — The request for information is now expected in June 2023 (previously Q2 2023).
The above is a faithful comparison of the IASB and ISSB work plan at March 27, 2023 and May 2, 2023.
For access to the current work plan at any time, please click here.