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Latest IASB work plan tweaks delivery timeframes for a number of projects

  • IASB (International Accounting Standards Board) Image

May 31, 2013

After its recent meeting, the IASB has updated its work plan and the timing of issuing a number of pronouncements. The timing of expected milestones have been deferred or clarified in relation to general hedge accounting, annual improvements, and other narrow-scope projects. Following the issue of the reexposed leases proposals, the work plan formally schedules the expected commencement of redeliberations in the fourth quarter of 2013.

Summary of changes

Details of the changes are:

Updates to major projects

Updates to narrow-scope projects

Projects for which due process documents are expected in the second quarter include an exposure draft on insurance contracts, a discussion paper on the conceptual framework project, a published report on the post-implementation review of IFRS 8, and finalized amendments on the novation of derivatives. In addition, an exposure draft of proposed amendments to IAS 41, Agriculture on bearer plants, is expected to be issued in the second or third quarter of 2013.

Click for IASB work plan dated May 30, 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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