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Updated IASB work plan — Analysis (March 2021)

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

26 Mar 2021

Following the IASB's March 2021 meeting, we have analysed the IASB work plan to see what changes have resulted from the meetings and other developments since the work plan was last revised in February 2021.

Below is an analysis of all changes made to the work plan since our last analysis on 19 February 2021.

Stan­dard-set­ting projects

  • Disclosure Initiative — Subsidiaries that are SMEs — The issuance of an exposure draft is now expected in Q3 2021 (previously H2 2021).
  • Disclosure Initiative — Targeted Standards-level Review of Disclosures — This project is now in the exposure draft feedback stage and discussions on the feedback is expected in H1 2022. The exposure draft was issued on 25 March 2021.
  • Rate-regulated activities — The comment letter deadline has been extended to 30 July 2021.

Main­te­nance projects

  • Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12) — The issuance of IFRS amendments is now expected in May 2021 (previously Q2 2021).
  • IFRS 16 and COVID-19— This project expects to issue IFRS amendments in March 2021.
  • Lease Liability in a Sale and Leaseback — Feedback to the exposure draft will now be discussed in May 2021 (previously Q2 2021).

Research projects

  • Extractive Activities — The decision of the project’s direction is now expected in May 2021 (previously Q2 2021).
  • Goodwill and Impairment — The discussion of the feedback on the discussion paper will continue in April 2021 (began in March 2021).
  • Second Comprehensive Review of the IFRS for SMEs Standard — The next project step will be the issuance of an exposure draft (no date given).

Other projects

  • IFRS Taxonomy Update — 2020 General Im­prove­ments and Common Practice — This project is removed from the work plan due to the issuance of the IFRS taxonomy update on 24 March 2021.
  • IFRS Taxonomy Update — Amend­ments to IFRS 17, IFRS 4 and IAS 16 — This project is removed from the work plan due to the issuance of the IFRS taxonomy update on 24 March 2021.
  • IFRS Taxonomy Update — Common Practice (IAS 19 Employee Benefits) — This project is removed from the work plan due to the issuance of the IFRS taxonomy update on 24 March 2021.

The above is a faithful com­par­i­son of the IASB work plan at 19 February 2021 and 26 March 2021. 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.