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IASB updates work plan

  • IASB (International Accounting Standards Board) Image

Feb 27, 2013

The International Accounting Standards Board (IASB) has updated its work plan. The timing of a number of due process steps have been clarified or extended, and a new project on IAS 19 introduced.

Summary of changes

Details of the changes are:

  • IAS 19 — Employee contributions to defined benefit plans — A new project is added to the IASB's agenda after discussions at the February 2013 meeting. An exposure draft is expected in the first quarter of 2013.
  • Insurance contracts — Target date for the publication of an exposure draft is now clarified as the second quarter of 2013 (previously first half of 2013).
  • Rate-regulated activities — The expected timing of an exposure draft for an interim IFRS on rate regulation is now clarified as the second quarter of 2013 (previously first half of 2013). In addition, the discussion paper to be issued as a result of the comprehensive project is now expected in the fourth quarter of 2013 (previously third or fourth quarter of 2013).
  • Annual improvements 2010–2012 cycle — Finalized amendments to be issued as a result of this cycle of annual improvements are now expected in the third quarter of 2013 (previously second quarter).
  • IAS 41 — Bearer biological assets — An exposure draft is now expected in the second or third quarter of 2013 (previously second quarter).
  • IAS 27 — Equity method in separate financial statements — Timing of the issuance of an exposure draft is now the second or third quarter of 2013 (previously second quarter).
  • Post-implementation review of IFRS 3 — Initiation of the review is now scheduled to commence in the second or third quarter of 2013 (previously first or second quarter).
  • Conceptual Framework project — The work plan notes that a feedback statement from the recently held disclosure forum is expected to be published in the second quarter of 2013.

    Due process documents expected before the end of the first quarter 2013

    According to the plan, the following due process documents are expected to be issued by the end of the March 2013 (this includes those items already noted above in some cases):

    Exposure drafts

    Discussion papers

    Click for the IASB work plan dated February 25, 2013 (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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