IASB tweaks its work plan

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26 Oct, 2012

The International Accounting Standards Board (IASB) has publicly released a slightly revised work plan making two minor changes to the previous version dated 19 October 2012. The updated plan drops the 'development of strategy' for the Agenda Consultation process and clarifies the next project milestone in the project on 'bearer biological assets' under IAS 41 will be an exposure draft rather than a discussion paper.

The IASB took the reference to the development of a strategy out because it implied that a strategy would be developed over the next six months while this work has already been completed and most of it discussed in public. The details of the strategy for the next three years will be included in the feedback statement on the agenda consultation.

The clarification in relation to the IAS 41 project is consistent with the IASB's discussions at the September 2012 meeting where it was decided that a discussion paper is not required due to the existing research that had already been undertaken in the area.

Click for IASB work plan as of 25 October 2012 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.

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