Research programme: Update [IASB only]

Date recorded:

Research Update (Agenda Paper 8)


The staff updated the Board on changes to the research programme since the last update.

Possible new research project: IBOR reform and effects on financial reporting

At this Board meeting (see here) the staff proposed to start an active research project on how impending reforms to interest reference rates might affect financial reporting.

Post-implementation review (PIR) of IFRS 10–12

The Board has previously decided to postpone the PIR of IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities to 2019 or early 2020.

The Accounting Standards Advisory Forum (ASAF) suggested starting the reviews as soon as possible and as one project. However, the staff do not plan to start the review before 2019.

Commodity loans and related transactions

The staff have been obtaining evidence about how prevalent these transactions are and will bring an analysis to the July 2018 Board meeting.

Staff recommendation

The staff did not have any recommendations for the Board. They asked Board members if they have any questions or comments.


There was some discussion on the timing of the PIRs. The Vice Chair said that depending on the Standard there are mixed views in practice as to when the PIRs should be conducted. The IASB has heard from consultative groups that the PIRs were conducted too early after the effective date. Also the PIR on IFRS 8 Operating Segments has revealed that it would have been better to leave more time between the effective date and the PIR.

One Board member mentioned that the issues around investment entities will likely be a centrepiece of the IFRS 10 PIR and the Board should consider to separate investment entities from the rest of IFRS 10 and initiate the PIR for this segment earlier.

On ‘Pension Benefits that Depend on Asset Returns’ the Research Director clarified that the research project would not look beyond the narrow scope of the issue and the project would result in a narrow-scope amendment. One Board member said that IAS 19 could be a good Standard to select for the targeted standards-level review of the Disclosure Initiative (see here).

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