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IASB updates work plan

  • IASB (International Accounting Standards Board) Image

Jun 30, 2015

The IASB recently updated its work plan.

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

Project Current status Next project step Expected timing
Conceptual framework — comprehensive IASB project ED Redeliberations* Q1 2016*
Financial instruments — macro hedge accounting Comment letter analysis Redeliberations Q3 2015*
Insurance contracts Revised ED Redeliberations Q3 2015*
Leases Revised ED Target IFRS Q4 2015
Disclosure initiative — Principles of disclosure Board discussion Target discussion paper Q4 2015
Disclosure initiative — changes in accounting policies and estimates Board discussion Target ED Q4 2015
Disclosure initiative — materiality Board discussion Draft practice statement Q3 2015
Rate-regulated activities Discussion paper Board discussion Q3 2015*

* Indicates a change since the previous work plan update on May 27, 2015.

Updates regarding the implementation and research projects include:

  • The target issuance date for the ED on clarifications related to the post-implementation review of IFRS 8 has been moved up one quarter to the third quarter of 2015.
  • IAS 28 — Eliminations of gains arising from "downstream" transaction will see an ED in the third quarter (moved back);
  • Two research projects have moved from the assessment phase to the development phase:
    • Business combinations under common control.
    • Equity method of accounting.
  • Two research projects have been added to the development phase as a result of the post-implementation review of IFRS 3:
    • Definition of a business.
    • Goodwill.
  • The research project on performance reporting is now called “primary financial statements.”

The revised work plan is available on the IASB's Web site. We have updated our project pages to reflect the revised work plan and other known developments.

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