Below is an analysis of all changes made to the work plan since our last analysis on 20 November 2020.

Stan­dard-set­ting projects

• Dis­clo­sure ini­tia­tive — Targeted Standards-level Review of Disclosures — Project recategorised from maintenance projects to standard-setting project.
• Financial instruments with characteristics of equity — the work plan still has this as a research project although the Board decided at its December meeting to move it to the standard-setting programme to be able to publish an exposure draft; no expected date for the exposure draft is given.
• Primary Financial Statements — after discussing the feedback to the exposure draft, a decision on the project direction is now expected in January 2021.

Main­te­nance projects

• Accounting policies and accounting estimates (Amend­ments to IAS 8) — the issuance of final amend­ments is now expected in February 2021 (pre­vi­ously first quarter of 2021).
• Dis­clo­sure ini­tia­tive — Accounting policies — the issuance of final amend­ments is now expected in February 2021 (pre­vi­ously first quarter of 2021).
• Lease Liability in a Sale and Leaseback — an exposure draft of proposed amendments was published on 27 November 2020 and the feedback on the exposure draft is expected to be discussed in the first half of 2021.

Research projects

• Business combinations under common control — a discussion paper was published on 30 November 2020 and the feedback on the discussion paper is expected to be discussed in the second half of 2021.
• Ex­trac­tive ac­tiv­i­ties — a decision on the project direction is now expected in the second quarter of 2021 (pre­vi­ously first quarter of 2021).
• Pension benefits that depend on asset returns — the review of the research was first discussed at the IASB's December 2020 meeting and detailed analysis is expected in February 2021.
• Post-implementation review of IFRS 10, IFRS 11 and IFRS 12 — the request for information was published on 9 December 2020 and discussion of the feedback is expected to begin in the second half of 2021.
• Post-implementation review of IFRS 9 — Classification and Measurement — the request for information is expected in the second half of 2021.
• Second comprehensive review of the IFRS for SMEs Standard — this is the new name of the 2019 Comprehensive Review of the IFRS for SMEs Standard project, which has also been recategorised from maintenance project to research project; after the IASB's discussion of the feedback to the request for information at its December 2020 meeting, a decision on the direction of the project expected in the first quarter of 2021.

Other projects

• IFRS Taxonomy Update — 2020 General Improvements and Common Practice — the feedback on the proposed IFRS Taxonomy Update is now expected in February 2021 (previously first quarter of 2021).
• IFRS Taxonomy Update — Amend­ments to IAS 1, IAS 8 and IFRS Practice Statement 2 — while a proposed Taxonomy Update was pre­vi­ously expected in the first quarter of 2021, the work plan now states that an "IFRS Amendment" is now expected in February 2021.
• IFRS Taxonomy Update — Common practice (IAS 19) — after a proposed IFRS Taxonomy Update was published on 24 November 2020 discussion of the feedback received is expected in February 2021.
• IFRS Taxonomy Update — Interest Rate Benchmark Reform — Phase 2 — Removed from the work plan since the final Taxonomy Update was published on 17 December 2020.

The above is a faithful com­par­i­son of the IASB work plan at 20 November 2020 and 18 December 2020. For access to the current IASB work plan at any time, please click here.