Updated IASB and ISSB work plan — Analysis (October 2022)

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

25 Oct, 2022

Following the IASB's and ISSB's October 2022 meetings, we have analysed the work plan on the IFRS Foundation website to see what changes have resulted from the meetings and other developments since the work plan was last revised in September 2022.

Below is an analysis of all changes made to the work plan since our last analysis on 26 September 2022.

Stan­dard-set­ting projects

  • Cli­mate-re­lated dis­clo­sures — The next step in this project is now the issuance of a final IFRS Sustainability Disclosure Standard (no date given).
  • Con­trac­tual cash flow char­ac­ter­is­tics of financial assets — This project is now part of the newly added maintenance project Amendments to the classification and measurement of financial instruments.
  • Dis­clo­sure ini­tia­tive — Targeted stan­dards-level review of dis­clo­sures — The IASB decided not to continue with any part of the ED — a project summary is expected in the first quarter of 2023.
  • General sus­tain­abil­ity-re­lated dis­clo­sures — The next step in this project is now the issuance of a final IFRS Sustainability Disclosure Standard (no date given).

Main­te­nance projects

  • Amendments to the classification and measurement of financial instruments —This project has been newly added to the work plan. It responds to feedback received on the Post-implementation review of IFRS 9 — Classification and measurement and also incorporates the project on Con­trac­tual cash flow char­ac­ter­is­tics of financial assets. An exposure draft is expected in the first half of 2023.
  • Lease liability in a sale and leaseback — This project has now been removed from work plan. The September 2022 work plan had still listed this project although it had been concluded by the issuance of final amendments.
  • Non-current liabilities with covenants (Amendments to IAS 1) — Final amendments are now expected in October 2022 (previously November 2022).

Research projects

  • Ex­trac­tive ac­tiv­i­ties — A decision on the direction of the project is now expected in first half of 2023 (previously September 2022).
  • Post-implementation review of IFRS 9 — Classification and measurement — A feedback statement is now expected in December 2022 (previously Q4 2022).

Other projects

  • IFRS taxonomy update — 2022 General Improvements and Common Practice — A proposed IFRS Accounting Taxonomy Update is now expected in November 2022 (previously no date given).
  • ISSB consultation on agenda priorities — A request for information is now expected in December 2022 (previously Q4 2022).

The above is a faithful com­par­i­son of the IASB and ISSB work plan at 26 September 2022 and 25 October 2022. For access to the current work plan at any time, please click here.

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