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IASB issues work plan update for December 2014

  • IASB (International Accounting Standards Board) Image

Dec 18, 2014

Following its December meeting and today's issuance of two final amendments and one exposure draft resulting from implementation projects, the IASB has updated its work plan. Changes are slight.

Current status

The revised time table 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

Comment letter analysis

Q1 2015

Insurance contracts

Re-exposure

Redeliberations

Q1 2015*

Leases

Re-exposure

Target IFRS

H2 2015

Disclosure initiative — Principles of disclosure

Board discussion

Target Discussion Paper

Q2 2015

Disclosure initiative — Reconciliation of liabilities from financing activities

Exposure draft

Public consultation

Q1 2015*

IFRS for SMEs — Comprehensive review

Redeliberations

Target IFRS

Q1 and Q2 2015*

Rate-regulated activities

Discussion paper

Public consultation

Q1 2015

* Indicates a change since the previous work plan update on November 24, 2014.

In addition, comment letter analysis in the unit of account project has been postponed to the first quarter of 2015, first Board discussions in the disclosure initiative project on disclosure review will begin in the first quarter of 2015, and the disclosure initiative project on materiality is expected to see a draft practice statement in the second quarter of 2015.

Click for the IASB work plan dated December 18, 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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