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IASB issues work plan update for October 2014

  • IASB (International Accounting Standards Board) Image

Oct 28, 2014

Following its October meeting, the IASB has updated its work plan. The revised plan adds an expect dates for final IFRSs on leases (H2 2015) and investment entities (Q4 2014); narrows the target range for the discussion paper on principles of disclosure to the second quarter of 2015; and moves the target date for an exposure draft on the classification of liabilities to the first quarter of 2015. Further, the revised plan provides an updated date for the feedback statement on the post-implementation review of IFRS 3 (now Q1 2015). Lastly, it includes updates to the expected timing of board discussions for the research project on inflation (Q1 2015) and adds a new research topic on performance reporting to be discussed during the first quarter of 2015.

 

Current status

The revised timetable for the major projects is now as follows:

Project Current status Next project step Expected timing

Conceptual Framework — Comprehensive IASB project

Redeliberations

Exposure draft

Q1 2015

Financial instruments — Macro hedge accounting

Discussion paper

Public consultation

Q4 2014

Insurance contracts

Reexposure

Redeliberations

Q4 2014

Leases

Reexposure

Target IFRS

H2 2015*

Disclosure initiative — Principles of disclosure

Board discussion

Targeted Discussion Paper

Q2 2015*

Disclosure initiative — Amendments to IAS 1

Exposure draft

Target IFRS

Q4 2014

Disclosure initiative — Reconciliation of liabilities from financing activities

Redeliberations

Exposure draft

Q4 2014

IFRS for SMEs — Comprehensive review

Exposure draft

Redeliberations

Q4 2014

Rate-regulated activities

Discussion paper

Public consultation

Q4 2014 and Q1 2015

* Indicates a change since the previous work plan update on September 26, 2014.

Click for the IASB work plan dated October 28, 2014 (link to IASB's Web site). We have updated our project pages to reflect the updated work plan and other known developments.

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