The following topics are on the agenda:

Board work plan update: The staff will provide an overview of the work plan. In particular, the staff will present completed projects, new projects, expected consultation documents and expected project completions.

Post-implementation review (PIR) of IFRS 9—Impairment: The IASB will deliberate the feedback received in response to its request for information Post-implementation Review—IFRS 9 Financial Instruments—Impairment. The staff recommends that the IASB does not take any further action on the matters raised by respondents regarding the use of forward-looking scenarios and post-model adjustments or management overlays in measuring expected credit losses.

Power purchase agreements: The staff will provide recommendations for amendments to propose in an exposure draft and ask for permission to begin the balloting process. In particular, the staff recommends proposed amendments to the own-use requirements and to the hedge accounting requirements. The staff also recommends that the IASB propose a scope for the amendments, and disclosure and transition requirements.

Second comprehensive review of the IFRS for SMEs Standard: The IASB will continue the redeliberations of its proposals in the exposure draft (ED) Third edition of the IFRS for SMEs Accounting Standard. In particular, the IASB will discuss the proposed revised Section 23 Revenue from Contracts with Customers, additional and alternative simplifications, other issues raised by respondents to the ED, proposed revised Section 2 Concepts and Pervasive Principles and updating the paragraph numbers of the IFRS for SMEs standard.

Climate-related and other uncertainties in the financial statements: The staff will explain the approach it has taken to develop examples illustrating how to apply requirements in IFRS Accounting Standards to report the effects of climate-related and other uncertainties in financial statements.

Maintenance and consistent application: The IASB will discuss whether and to what extent the proposed disclosures requirements in the forthcoming exposure draft (ED) Use of a Hyperinflationary Presentation Currency by a Non-hyperinflationary Entity should apply to subsidiaries without public accountability. The staff will also ask for permission to ballot the ED.

PIR of IFRS 15 Revenue from Contracts with Customers: In this session, the IASB will further analyse the feedback specific to determining the transaction price, determining when to recognise revenue and disclosure requirements of IFRS 15. The staff recommends that the IASB take no further action on those items.

Equity method: The staff will ask the IASB to clarify its tentative decision regarding transitional requirements for the proposed amendments to IAS 28 and to agree on the due process steps for the exposure draft.

Management commentary: The IASB will be asked for comments and questions on the discussion about the direction of the management commentary project. The staff has identified the following four broad alternative directions that the IASB could take at a future meeting: finalise the project; retire the project; undertake a broader project; and keep the project on hold.

Catch-up exposure draft of the forthcoming IFRS 19 Subsidiaries without Public Accountability: Disclosures: The staff will ask the IASB to agree on disclosure requirements to propose in the “catch-up exposure draft” following the publication of IFRS 19.

Rate-regulated activities: The IASB will continue to redeliberate the proposals in the exposure draft Regulatory Assets and Regulatory Liabilities, in particular the discount rate and reduced disclosure requirements.

Our pre-meet­ing summaries is available on our March meeting notes page and will be sup­ple­mented with our popular meeting notes after the meeting.