Updated IASB work plan — Analysis

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17 Nov, 2018

Following the IASB's November 2018 meeting, we have analysed the IASB work plan to see what changes have resulted from the meeting and other developments since the work plan was last revised in October. Curiously, a project on IFRS 17 amendments is still missing from the work plan although the IASB has begun discussing possible amendments to IFRS 17 'Insurance Contracts' and has already tentatively decided to defer the effective date of the standard by one year.

Below is an analysis of all changes that were made to the work plan since our last analysis on 26 October 2018.

Standard-setting projects

  • Primary financial statements — a discussion paper or exposure draft is now expected in the second half of 2019 (was: first half of 2019)

Maintenance projects

  • Deferred tax related to assets and liabilities arising from a single transaction (Amendments to IAS 12) — newly added to the work plan; an exposure draft is expected in the first half of 2019
  • Disclosure Initiative — Definition of Material (Amendments to IAS 1 and IAS 8) — removed from the work plan as final amendments were published on 31 October 2018
  • Updating a Reference to the Conceptual Framework (Amendments to IFRS 3) — at its November meeting, the IASB decided to move forward with amendments, so the next project step is now an exposure draft (no date given)

Research projects

  • Financial instruments with characteristics of equity — feedback on the discussion paper is now expected in the first quarter of 2019 (was: first half of 2019)
  • Share-based payment — removed from the work plan as a research summary was published on 31 October 2018

Other projects

  • IFRS Taxonomy update — Common Practice (IFRS 13) — an analysis of the feedback received is now expected in January 2019 (was: first quarter of 2019)
  • Revisions to the Preface to IFRSs — newly added to the work plan; finalised wording is expected in December 2018

The above is a faithful comparison of the IASB work plan at 26 October 2018 and at 17 November 2018. For access to the current IASB work plan at any time, please click here.

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