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Updated IASB work plan released

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Feb 09, 2012

The IASB has released an updated work plan, dated February 1, 2012, that incorporates the effects of recently issued pronouncements and outlines revised "current best estimates" for its various projects.

A new target date has been introduced for the IASB-FASB joint project on classification and measurement of financial instruments (limited amendments to IFRS 9). A number of key dates for other financial instrument projects have been deferred, including the expected next step in the insurance contracts project.

The following is a summary of the changes in the revised work plan:

  • Financial instruments:
    • Classification and measurement — An exposure draft is expected to be issued in the second half of 2012.
    • Impairment — Reexposure now expected in the second half of 2012 (previously the second quarter of 2012).
    • Macro hedge accounting — The possibility of a discussion paper has been added to the original intention for an exposure draft due in third quarter 2012.
    • General hedge accounting — A review draft of general hedge accounting requirements is still expected in the first quarter of 2012, but the targeted completion of the standard now expected in the second half of 2012 (previously the second quarter of 2012).
  • Insurance contracts — A review draft or reexposure is now expected in the second half of 2012 (previously the second quarter of 2012).

Click for the IASB work plan as of February 1, 2012 (link to the IASB's Web site). We have updated our project pages to reflect the updated work plan and other known developments.

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