IASB updates work plan
21 Dec, 2015
Following its December 2015 meeting, the IASB has updated its work plan. As mentioned before, directly tracing the Board's progress on the individual projects has become impossible since the change of the work plan format in July, unless the Board makes definite progress or has to make larger corrections. Of these, only a few can be identified in the December work plan.
On major projects, the only change the Board notes is that a decision on the direction of the Disclosure initiative project on Materiality is now expected within 6 months (was: after six months). For all other projects the next project steps may or may not have been pushed back by one month since the last work plan update.
Updates regarding the implementation projects are:
- Following the publication of the exposure draft ED/2015/11, the project on the different effective dates of IFRS 9 and the new insurance contracts standard has been changed to now being in "public consultation".
- The status of the project on clarifications to IFRS 15 has also been changed. The work plan now states that an IFRS is being developed and will be published within three months.
- Finally, the project on deferring the effective date of September 2014 amendments to IFRS 10 and IAS 28 has been removed from the work plan following the publication of final amendments last week
There are no updates to the research projects.
The revised IASB work plan is available on the IASB's website.
