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IFRS projects — Updated in the last 3 months | Deloitte CFR


The following projects were updated in the last three months:

Title Description Last step Date Added
Accounting for Dynamic Risk Management: A Portfolio Revaluation Approach to Macro Hedging (Proposed amendments to IFRS 9) [ED] The DP represents the first stage in this project, by seeking public comment on a possible approach to accounting for an entity’s dynamic risk management activities, namely the portfolio revaluation approach (PRA). Dec 31, 2021
Business Combinations under Common Control (Potential Amendments to IFRS 3) [DP] The essence of the project is to identify whether and when an entity should continue to use the previous carrying amounts of a transferred business (carry-over accounting) and whether and when it should apply business combination accounting. Discussion paper Dec 31, 2021
Classification of Debt with Covenants as Current or Non-current (Proposed amendments to IAS 1) [ED] At its meeting on June 23. 2021, the Board decided to amend IAS 1, Presentation of Financial Statements, in response to new information provided by respondents re the tentative Agenda Decision Classification of Debt with Covenants as Current or Non-current. Exposure draft Dec 31, 2021
Disclosure initiative — Primary Financial Statements [ED] The Primary Financial Statements project examines possible changes to the structure and content of the primary financial statements. Exposure draft Dec 31, 2021
Disclosure initiative — Targeted Standards-level Review of Disclosures [ED] The purpose of this project is to perform a targeted Standards-level review of disclosure requirements. Exposure draft Nov 30, 2021
Equity Method (Possible amendments to IAS 28) [Research] The IASB is undertaking research to assess whether application problems with the equity method as set out in IAS 28, Investments in Associates and Joint Ventures, can be addressed in consolidated and individual financial statements by identifying and explaining the principles of IAS 28 Research Nov 30, 2021
Extractive Industries (Possible replacement of IFRS 6, Exploration for and Evaluation of Mineral Resources) [Research] The IASB is gathering evidence to help decide whether to start a project to develop proposals to replace IFRS 6, Exploration for and Evaluation of Mineral Resources. Research Nov 30, 2021
Financial Instruments with Characteristics of Equity (Potential Amendments to IAS 32) [DP] This is currently a joint research project with the FASB to address issues related to the guidance in IAS 32, Financial Instruments: Presentation, which distinguishes between asset and liability instruments (non-equity instruments) and equity instruments. Discussion paper Dec 31, 2021
Goodwill and Impairment [ED] The objective of this project is to consider how to address the three areas of focus identified in the Post-implementation Review of IFRS 3, Business Combinations. Dec 31, 2021
IASB’s Third Agenda Consultation [ED] The IASB is required to undertake a public consultation on its work plan every five years. The primary objective of the agenda consultation is to seek formal public input on the strategic direction and balance of the Board’s work plan. Research Dec 31, 2021
IFRS Foundation consultation on amending its Constitution to establish an International Sustainability Standards Board (ISSB) [Completed] The Trustees of the IFRS Foundation amended the IFRS Foundation Constitution to enable the creation of a new sustainability standards board under the governance of the Foundation. Completed Nov 30, 2021
IFRS Taxonomy Proposed Update: Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17) [ED] The proposed changes reflect those made by the amendments to IFRS 17 on Initial Application of IFRS 17 and IFRS 9—Comparative Information Exposure draft Dec 31, 2021
IFRS Taxonomy Proposed Update, Disclosure of Accounting Policies and Definition of Accounting Estimates [ED] The proposed taxonomy update includes changes to the IFRS Taxonomy elements to reflect new and amended disclosure requirements. Exposure draft Dec 31, 2021
IFRS Taxonomy Proposed Update, 2021 Technology Update [ED] The proposed changes aim to reflect developments in the technology that underlies or relates to the IFRS Taxonomy. Exposure draft Dec 31, 2021
Initial Application of IFRS 17 and IFRS 9―Comparative Information (Amendments to IFRS 17) [Completed] Narrow-scope amendment to the transition requirements of IFRS 17, Insurance Contracts. Completed Dec 31, 2021
Lack of Exchangeability (Possible Amendments to IAS 21) [ED] The objective of this project is to undertake narrow-scope standard-setting on the spot exchange rate an entity uses when exchangeability between two currencies is lacking Exposure draft Oct 31, 2021
Lease Liability in a Sale and Leaseback [ED] The objective of this project is to amend IFRS 16 to specify how the seller-lessee applies the subsequent measurement requirements in IFRS 16 to the lease liability that arises in a sale and leaseback transaction. Exposure draft Dec 31, 2021
Management Commentary (Wider corporate reporting) [ED] This purpose of this project is to revise and update the “Management Commentary Practice Statement” issued in 2010. Exposure draft Nov 30, 2021
Narrow-scope amendments to IAS 19 and IFRIC 14 — Remeasurement on a plan amendment, curtailment or settlement [Completed] / Availability of a refund of a surplus from a defined benefit plan [ED] Narrow-focus amendments to IAS 19, "Employee Benefits", and IFRIC 14, "The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction" Exposure draft Dec 31, 2021
Pension Benefits that Depend on Asset Returns (Possible amendments to IAS 19) [Completed] The objective of this project is to develop proposals for targeted amendments to the requirements for defined benefit plans in IAS 19, Employee Benefits. Completed Dec 31, 2021

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