In May 2023, the IASB introduced new requirements to improve transparency in supplier finance arrangements which aimed to assist investors in evaluating changes in a company’s debt, whether they are cash-related or non-cash related, by providing more comprehensive and transparent information.

Review the press release and the article on the IFRS Foundation’s website.

The consultation provides an opportunity for constituents to comment on the IPSASB’s proposed Strategic Objective, and the two main activities to deliver on the Strategic Objective.

In addition to the proposed new maintenance activities and the priorities for these, constituents are also asked to comment on potential future Financial Reporting Work Program priorities, and what the key public sector sustainability reporting issues the IPSASB should consider adding to its Work Program.

The consultation is open for public comment until February 15, 2024.

Review the consultation on the IPSASB website.

Below is an analysis of all changes made to the work plan since our last analysis on September 26,2023.

Standard-setting projects

• Business Combinations — Disclosures, Goodwill and Impairment — An exposure draft is expected in Q1 2024 (previously H1 2024)
• Disclosure Initiative — Subsidiaries without Public Accountability: Disclosures— An IFRS Accounting Standard is now expected in Q2 2024 (previously H1 2024)
• Second Comprehensive Review of the IFRS for SMEs Accounting Standard— The IFRS for SMEs Accounting Standard is now expected in H2 2024 (previously 2024)

Strategy and Governance

• ISSB consultation on agenda priorities — The feedback on the request for information is now expected in December 2023 (previously Q4 2023)

Maintenance projects

• Amendments to the IFRS for SMEs — International tax reform — Pillar Two Model Rules — The project has been removed from the work plan due to the issuance of the IFRS for SMEsamendments on September 29, 2023
• Climate-related and Other Uncertainties in the Financial Statements— A decision on the project’s direction is now expected in Q1 2024 (previously H1 2024)
• International Applicability of the SASB Standards — The project is now considered a maintenance project; SASB amendments are expected in December 2023
• Power purchase agreements — First feedback on the project resulting from the discussions of the IASB advisory groups will be discussed in December 2023
• Provisions —Targeted Improvements — A decision on the project direction is now expected in December 2023 (previously Q4 2023)

Research projects

• Extractive activities — The project summary is now expected in December 2023 (previously Q4 2023)

Other projects

• IFRS Accounting Taxonomy Update — Amendments to IAS 12, IAS 21, IAS 7 and IFRS 7 — The proposed IFRS Taxonomy update was published on October 5, 2023and feedback received will be discussed in Q1 2024
• IFRS Accounting Taxonomy Update — Primary Financial Statements — The proposed IFRS Taxonomy update is now expected in H1 2024 (previously 2024)
• IFRS Sustainability Disclosure Taxonomy— Discussion of the proposed taxonomy feedback is now expected in November 2023 (previously Q4 2023)

The above is a faithful comparison of the IASB and ISSB work plan on September 26, 2023, and October 30, 2023.

For access to the current work plan at any time, please click here.