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IASB updates work plan and changes format

  • IASB (International Accounting Standards Board) Image

Aug 05, 2015

The IASB recently updated its work plan. It has also changed the format so that a direct comparison with previous work plans is not easily possible, as the attribution to quarters has been abandoned.

The revised timetable for the major projects is now as follows:
Project Current status Next project step Expected timing
Conceptual Framework — Comprehensive IASB projec ED Decide project direction Q1 2016 at the earliest
Financial instruments — Macro hedge accounting Comment letter analysis Target DP Q1 2016 at the earliest*
Insurance contracts Revised ED Target IFRS Q1 2016 at the earliest*
Leases Revised ED Target IFRS Q4 2015 or Q1 2016*
Disclosure initiative — Principles of disclosure Board discussion Target DP Q4 2015 or Q1 2016*
Disclosure initiative — Changes in accounting policies and estimates Board discussion Target ED Q1 2016 at the earliest*
Disclosure initiative — Materiality Board discussion Draft Practice Statement Q3 or Q4 2015*
Rate-regulated activities DP Target DP Q1 2016 at the earliest*

* Indicates a change since the previous work plan update on June 30, 2015 as far as can be told from the IASB's new approach, which now speaks of "within three months," "within six months," and "later."

Minor updates to implementation and research projects include:

The revised IASB work plan is available on the IASB's Web site. The IASB has also published a work plan guide that explains the new presentation format. We have updated our project pages to reflect the updated work plan and other known developments.

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