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

IFRS

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). Deliberations Apr 30, 2019
Accounting Policies and Accounting Estimates (Potential Amendments to IAS 8) [ED] The purpose of this project is to clarify the distinction between a change in an accounting policy and a change in an accounting estimate, in relation to the application of IAS 8. Exposure draft Mar 31, 2019
Amendments to IFRS 17, Insurance Contracts [Research] The objective of this project is to address concerns and implementation challenges raised since the IFRS 17 was issued and to consider whether there is a need to amend the Standard. Research May 31, 2019
Annual Improvements to IFRSs 2018-2020 Cycle [ED] This project tracks developments in the annual improvements process for the 2018-2020 cycle. Research May 31, 2019
Business Combinations under Common Control (Potential Amendments to IFRS 3) [Research] 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. Deliberations Apr 30, 2019
Classification of Liabilities (Proposed Amendments to IAS 1) [ED] The amendments aim at a more general approach to the classification of liabilities under IAS 1 based on the contractual arrangements in place at the reporting date. Exposure draft Mar 31, 2019
Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) [Research] The proposed narrow-scope amendment would narrow the initial recognition exemption in paragraphs 15 and 24 of IAS 12 so that it would not apply to transactions that give rise to both taxable and deductible temporary differences, to the extent the amounts recognized for the temporary differences are the same. Research Jun 04, 2019
Disclosure initiative — Primary Financial Statements [Research] The Primary Financial Statements project is an early stage research examining possible changes to the structure and content of the primary financial statements. Research May 31, 2019
Disclosure initiative — Targeted Standards-level Review of Disclosures [Research] The purpose of this project is to perform a targeted Standards-level review of disclosure requirements. Research May 31, 2019
Disclosure initiative — Accounting Policies [Research] The objective of this project is to develop guidance and examples to help entities apply materiality judgements to accounting policy disclosure. Research Apr 30, 2019
Disclosure initiative — Principles of disclosure [Completed] This project on financial statement presentation is focused on broader challenges associated with disclosure effectiveness, which ultimately may lead to a replacement for IAS 1, IAS 7, and IAS 8, in essence developing a disclosure framework for IFRS. Completed Mar 30, 2019
Due Process Handbook Review [ED] The Due Process Oversight Committee decided to undertake a further review to ensure its Handbook continues to be fit for purpose. Research May 31, 2019
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 Apr 30, 2019
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 Mar 31, 2019
Goodwill and Impairment [Research] 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. Research May 31, 2019
IBOR Reform and the Effects on Financial Reporting [ED] The objective of this project is to discuss a proposal for a research project on interbank offered rate (IBOR) reform and its effects on financial reporting. Exposure draft May 31, 2019
IFRS Taxonomy Update—2018 General Improvements [ED] The IFRS Taxonomy team is currently reviewing a number of improvements to the IFRS Taxonomy 2018 to support consistent tagging. Exposure draft Mar 31, 2019
Management Commentary (Wider corporate reporting) [Research] This purpose of this project is to revise and update the “Management Commentary Practice Statement” issued in 2010. Research May 31, 2019
Onerous Contracts—Cost of Fulfilling a Contract (Amendments to IAS 37) [ED] This project clarifies the meaning of the term "unavoidable costs" in the IAS 37 definition of an onerous contract. Exposure draft May 31, 2019
Reporting the Financial Effects of Rate Regulation [ED] This is the first step in the IASB’s project to develop a comprehensive IFRS standard for entities that have rate-regulated activities. Redeliberations May 31, 2019
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