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IASB updates work plan

  • IASB (International Accounting Standards Board) Image

May 05, 2015

The IASB recently updated its work plan.

The revised plan narrows the expected issuance of the leases standard to the fourth quarter of 2015; shifts the expected issuance of an exposure draft (ED) for the 2014–2016 annual im­prove­ments cycle, as well as re­de­lib­er­a­tions of the clas­si­fi­ca­tion and mea­sure­ment of share-based payment trans­ac­tions, to the third quarter of 2015; and indicates that the dis­clo­sure ini­tia­tive project (amend­ments to IAS 7, Statement of Cash Flows) is expected to be redeliberated in the second quarter of 2015. In addition, two projects have been added on (1) transfers of in­vest­ment property, for which an ED is expected to be issued in the third quarter of 2015, and (2) un­cer­tain­ties in income taxes, for which a draft in­ter­pre­ta­tion is expected to be released in the second 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 ED Q2 2015
Fi­nan­cial in­stru­ments — macro hedge ac­count­ing Comment letter analy­sis Re­de­lib­er­a­tions Q2 2015
In­sur­ance con­tracts Re­ex­po­sure Re­de­lib­er­a­tions Q2 2015
Leases Re­ex­po­sure Target IFRS Q4 2015*
Dis­clo­sure ini­tia­tive — prin­ci­ples of dis­clo­sure Board dis­cus­sion Target dis­cus­sion paper Q4 2015
Dis­clo­sure ini­tia­tive — rec­on­cil­i­a­tion of li­a­bil­i­ties from fi­nanc­ing ac­tiv­i­ties ED Redeliberations Q2 2015*
IFRS for SMEs — com­pre­hen­sive review Re­de­lib­er­a­tions Target IFRS Q2 2015
Rate-reg­u­lated ac­tiv­i­ties Dis­cus­sion paper Board dis­cus­sion Q2 2015

* In­di­cates a change since the pre­vi­ous work plan update on March 24, 2015.

Minor updates to the research pro­jects include:

  • Renaming the general dis­clo­sure review project as “Standards — Level Review of Dis­clo­sures” and slating board dis­cus­sions for the fourth quarter of 2015.
  • Moving the target draft practice statement for the ma­te­ri­al­ity project to the third quarter of 2015.
  • Ini­ti­at­ing board dis­cus­sions on goodwill in the second quarter of 2015.

The revised IASB work plan is avail­able on 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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