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Updated IASB work plan — Analysis (July 2021)

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

24 Jul 2021

Following the IASB's July 2021 meetings (including a joint meeting with the FASB), 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 May 2021.

Below is an analysis of all changes made to the work plan since our last analysis on 28 June 2021.

Standard-setting projects

  • Disclosure Initiative — Subsidiaries that are SMEs An exposure draft is now expected on 26 July 2021 (previously July 2021)
  • The comment letter period on Disclosure requirements in IFRS Standards — A Pilot Approach has been extended to 12 January 2022 (previously 21 October 2021)

Maintenance projects

  • Initial Aapplication of IFRS 17 and IFRS 9 — Comparative Information (Amendments to IFRS 17) — An exposure draft is still expected in July 2021, which would mean "next week"
  • IAS 21 — Lack of exchangeability — An exposure draft is now expected Q4 2021 (previously H2 2021)

Research projects

  • Business Ccombinations under common control — Discussion paper feedback will now be discussed in Q4 2021 (previously H2 2021)
  • Extractive activities — A decision on the project direction is now expected in September 2021 (previously July 2021)
  • Goodwill and impairment A decision on the project direction is now expected in September 2021 (previously Q3 2021)
  • Post-implementation review of IFRS 10-12 A feedback statement in H2 2022 is the new expected project milestone (previously discussion of request for information feedback to be discussed in July 2021)
  • Post-implementation review of IFRS 9 A request for information is now expected in September 2021 (previously Q3 2021)

Other projects

  • After the comment period on IFRS Taxonomy 2021 Proposed Update 1 — Disclosure of Accounting Policies and Definition of Accounting Estimates has ended, the IASB will now discuss the feedback received in Q4 2021
  • Feedback on the proposed amendments to the IFRS Foundation Constitution regarding setting up a potential ISSB The discussion of feedback is now expected in October 2021 (previously H2 2021)
  • Agenda consultation 2020 The discussion of feedback is now expected in Q4 2021 (previously H2 2021)

The above is a faithful comparison of the IASB work plan at 28 June 2021 and 24 July 2021. For access to the current IASB work plan at any time, please click here.

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