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IASB updates work plan

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

19 Feb 2016

Following its February 2016 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 since the previous work plan. However, the IASB has begun to indicate the month which issuance of exposure drafts or final standards may occur.

On major projects, the only change the Board notes is that the Conceptual Framework project is currently in the analysis stage (previously in public consultation). The disclosure initiative — principles of disclosure project is currently in the drafting discussion paper stage (previously in analysis).

Updates regarding the im­ple­men­ta­tion projects are:

  • Annual improvements 2015-2017 — exposure draft is no longer expected after six month, instead the Board will decide the direction of the project within the next six months.
  • Definition of a business — exposure draft issuance date is narrowed to May 2016.
  • Remeasurement of previously held interests — obtaining control or joint control in a joint operation that constitutes a business — exposure draft is narrowed to May 2016.

The revised IASB work plan is available on the IASB's website.

Correction list for hyphenation

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