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IASB work plan update for January 2014

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

28 Jan 2014

Following its recent meeting, the International Accounting Standards Board (IASB) has updated its work plan. The target date for publication of the impairment and limited classification and measurement amendments to IFRS 9 have been clarified as being expected in the second quarter of 2014, the release of a Request for Information on the post-implementation review of IFRS 3 brought forward to the first quarter of 2014, and expected redeliberation periods in a number of projects clarified. The work plan also reflects the commencement of preliminary work on the research project on the equity method of accounting.

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–Q3 2014*

Financial instruments — Impairment

Redeliberations

Finalised IFRS

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

Q2 2014*

Insurance contracts

Re-exposure

Redeliberations

Q1 2014

Leases

Re-exposure

Redeliberations

Q1 2014

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.

Changes concerning narrow scope projects are:

In addition, the IASB's research project on the equity method of accounting has been moved to 'preliminary work conducted' section of the research agenda.

Click for the IASB work plan dated 27 January 2014 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.

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