This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

IASB launches second agenda consultation on its future work program

  • IASB document Image

Aug 11, 2015

The IASB has launched its second public consultation to seek broad public input on the strategic direction and overall balance of its future work program. As the IASB's current agenda is very full as a result of the 2011 agenda consultation, the IASB's ability to consult is constrained by the current commitments in its work programmand the 2015 agenda consultation process is not as detailed as the previous process was.


In his introductory message, IASB Chairman Hans Hoogervorst notes that the agenda consultation is linked to the review of the structure and effectiveness of the organisation the Trustees of the IFRS Foundation launched in July 2015. The Trustees' questions with respect to the relevance of IFRS (including a possible extension of the IASB's remit beyond the current focus either in terms of the types of entity covered or the types of reporting) and consistent application are pertinent to any discussion of the IASB's agenda, and the IASB encourages stakeholders to consider both consultations jointly.

The IASB's approach to standard-setting

The first part of the agenda consultation paper covers the IASB’s approach to standard-setting, as it has evolved significantly since the last agenda consultation. The IASB now pursues a standard-setting process that more clearly based on evidence. A detailed description is provided of the research phase, standards-level projects, maintenance, and post-implementation reviews.

Current position and questions on the IASB’s work plan 2016–2020

The scope of the 2015 agenda consultation — covering the IASB's work programme from mid-2016 to mid-2020 — is limited by the expected level of standard-setting activity during that period. Therefore, the first section of the Request for Views (RfV) details the current situation. It describes the message received from the agenda consultation 2011 that stakeholders thought that the IASB should dedicate additional resources to the implementation and maintenance of IFRS. It also offers an overview of all projects currently on the IASB's agenda including expected completion.

The IASB concludes that the 2015 agenda consultation process is constrained by both the capacity of the IASB to take on additional technical projects and by the stakeholders' ability to deal with the change that results from standard-setting activities. The IASB asks in the RfV whether constituents believe that the IASB's current balance of projects (major/implementation/research) is right, whether any additional projects should be added to the major projects work programme, whether enough implemenation support is provided, and whether the pace current of change is right.

A substantive part of the RfV is dedicated to the interplay of research with the work program. The research program, initiated as a response to the agenda consultation 2011, was established as a broad-based program with a relatively low threshold for adding projects. Most of the projects now on the research program were added at that time. The IASB has since introduced a more disciplined approach to the research program and assigned the projects to exploratory, assessment, and development phases. The research agenda is still very full.

The IASB wants to ensure that all projects on the agenda fill an existing gap in IFRS, increase the relevance of IFRS, and/or support the consistent application of IFRS. It therefore asks respondents what priority they would ascribe to each topic on the research program, whether there are there any topics that should be added to the research program, and whether there are any topics that should be deleted from the research program.

Frequency of agenda consultations

In the third section of the RfV, the IASB asks respondents whether a three-yearly agenda consultation process is appropriate in view of the fact that the time frame for developing and issuing standards is a long one. The IASB proposes that a five-year interval between agenda consultations is more appropriate than the three-year interval currently required.

Additional information

Comments on the consultation document are required by 31 December 2015.

 The agenda consultation and press release are available on the IASB's Web site.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.