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Updated IASB work plan — Analysis

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

01 Oct 2019

Following the IASB's September 2019 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 July.

Below is an analysis of all changes that were made to the work plan since our last analysis on 3 September 2019.

Standard-setting projects

  • No changes

Maintenance projects

  • Annual improvements — 2018-2020 cycle — discussions on feedback received on the exposure draft is expected to occur in November 2019 (previously fourth quarter of 2019); projects that are part of the overall project are:
    • Fees in the ‘10 per cent’ Test for derecognition of financial liabilities (Amendments to IFRS 9)
    • Lease incentives (Amendment to illustrative example 13 accompanying IFRS 16)
    • Subsidiary as a first-time adopter (Amendments to IFRS 1)
    • Taxation in fair value measurements (Amendments to IAS 41)
  • Classification of liabilities as current or non-current (Amendments to IAS 1) — final amendments are now expected in the first quarter of 2020 (previously fourth quarter of 2019)
  • IBOR reform and its effects on financial reporting (Phase 1) — final amendments were published on 26 September 2019; the project has therefore been removed from the work plan
  • Onerous contracts — Cost of fulfilling a contract (Amendments to IAS 37) — the IASB decided on the future project direction and decided to proceed with final amendments (no date given)

Research projects

  • SME Implementation Group draft Q&A — project has disappeared from the work plan
  • Extractive activities — the review of research is now expected in the first half of 2020 (previously fourth quarter of 2019)
  • Goodwill and impairment — a discussion paper is now expected in the first quarter of 2020 (previously fourth quarter of 2019)

Other projects

  • 2020 Agenda Consultation — newly added to the work plan, a request for information is expected in the first half of 2020
  • IFRS Taxonomy Update — Interest Rate Benchmark Reform (Amendments to IFRS 9, IAS 39 and IFRS 7) — newly added to the work plan, a proposed IFRS Taxonomy Update is expected in October 2019

The above is a faithful comparison of the IASB work plan at 3 September 2019 and at 1 October 2019. For access to the current IASB work plan at any time, please click here.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.