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IASB work plan updated

  • IASB (International Accounting Standards Board) (blue) Image

26 Nov 2013

Following its recent meeting, the International Accounting Standards Board (IASB) has updated its work plan. The redeliberations on insurance contracts have been deferred to the first quarter of 2014 and the discussion paper on rate regulation is now expected in the second quarter of 2014. Next steps in the narrow scope project on put options will be determined in the first quarter of 2014.

Current status

The revised time table for the major projects is now as follows:

Project

Current status

Next project step

Expected timing

Conceptual Framework — Comprehensive IASB project

Discussion paper

Redeliberations

Q1/Q2 2014

Financial instruments — Impairment

Redeliberations

Finalised IFRS

Q1/Q2 2014

Financial instruments — Macro hedge accounting

Research/deliberations

Discussion paper

Q1 2014

Financial instruments — Limited reconsideration of IFRS 9 (classification and measurement)

Redeliberations

Finalised IFRS

Q1/Q2 2014

Insurance contracts

Re-exposure

Redeliberations

Q1 2014*

Leases

Re-exposure

Redeliberations

Q4 2013

Rate-regulated activities — interim IFRS

Exposure draft

Finalised IFRS

Q1 2014

Rate-regulated activities — Comprehensive project

Research/deliberations

Discussion paper

Q2 2014*

Revenue recognition

Redeliberations

Finalised IFRS

Q1 2014

* Indicates a change since the prior work plan update.

Next steps in the narrow scope project IAS 32 — Put options over non-controlling interests will be determined in the first quarter of 2014. The conceptual framework discussion paper published in July 2013 contains a proposal which would provide a solution that could be applied to this project. Comments on the discussion paper close on 14 January 2014 and constituent feedback will probably figure in determining how to proceed with the narrow scope project on put options.

Click for the IASB work plan dated 26 November 2013 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.

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