Update (Agenda Paper 8)

This paper provided an update on the IASB’s work plan since its last update in May 2023. The purpose of this paper was to provide a holistic view of the IASB’s technical projects to support decisions about whether to add or remove projects, as may be discussed in individual project papers and enable assessment of overall progress on the work plan, including project prioritisation and timing.

The staff did not ask the IASB to make any decisions.

Completed Projects

In May 2023, the IASB issued International Tax Reform—Pillar Two Model Rules (Amendments to IAS 12) and Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7). In August 2023, the IASB issued Lack of Exchangeability (Amendments to IAS 21).

New projects

Active projects

In July 2023, the IASB added a maintenance project to its work plan to research whether feasible narrow-scope amendments to IFRS 9 could be made for power purchase agreements. This project arose from a recommendation from the IFRS Interpretations Committee (IFRS IC) in June.

Pipeline projects

Use of a Hyperinflationary Presentation Currency by a Non-hyperinflationary Entity has been added to the pipeline based on a recommendation from the IFRS IC in June.

Update to the Subsidiaries without Public Accountability: Disclosures Standard was added as discussed at the IASB meeting in July 2023.

In Q4 2023, the IASB will consider updated information about whether to start its post-implementation reviews on IFRS 16 and the hedge accounting requirements in IFRS 9.

Expected project completions in about the next six months

The staff expects that the IASB will issue:

• Amendments to the IFRS for SMEs Accounting Standard for International Tax Reform—Pillar Two Model Rules in September 2023
• IFRS Accounting Standard X—Presentation and Disclosure in Financial Statements in H1 2024
• IFRS Accounting Standard X—Subsidiaries without Public Accountability: Disclosures in H1 2024

Consultation documents in about the next six months

The staff expects that the IASB will publish:

• Exposure Draft—Financial Instruments with Characteristics of Equity in Q4 2023 or Q1 2024
• Exposure Draft—Business Combinations—Disclosure, Goodwill and Impairment in H1 2024

IASB discussion

There was no significant discussion on this agenda item.