IASB issues work plan update

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27 Jan, 2015

After its January meeting, the IASB has updated its work plan. The revised plan moves — from the first quarter to the second quarter of 2015 — (1) the targeted date for an exposure draft (ED) on elimination of gains and losses arising from transactions between an entity and its associate or joint venture and (2) the feedback statement on the post-implementation review for IFRS 3. In addition, the work plan adds a new project on remeasurement related to a plan amendment, curtailment, or settlement/availability of a refund of a surplus from a defined benefit plan (an ED is targeted for the second quarter of 2015).

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

Re­de­lib­er­a­tions

ED

Q1 2015

Financial in­stru­ments — Macro hedge accounting

Dis­cus­sion paper

Comment letter analysis

Q1 2015

Insurance contracts

Re-ex­po­sure

Re­de­lib­er­a­tions

Q1 2015

Leases

Re-ex­po­sure

Target IFRS

H2 2015

Dis­clo­sure ini­tia­tive — Prin­ci­ples of dis­clo­sure

Board dis­cus­sion

Target Dis­cus­sion Paper

Q2 2015

Dis­clo­sure ini­tia­tive — Rec­on­cil­i­a­tion of li­a­bil­i­ties from financing ac­tiv­i­ties

ED

Public con­sul­ta­tion

Q1 2015

IFRS for SMEs — Com­pre­hen­sive review

Re­de­lib­er­a­tions

Target IFRS

Q1 or Q2 2015

Rate-reg­u­lated ac­tiv­i­ties

Dis­cus­sion paper

Comment letter analysis

Q1 2015

In addition, board discussions related to the research project on business combinations under common control now extend into the second quarter of 2015.

The revised IASB work plan (dated 27 January 2015) is available on the IASB's website. We have updated our project pages to reflect the updated work plan and other known developments.

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