Technical Plan

Date recorded:

The Board discussed the public IASB project timetable and a long-term management plan and how the Board should communicate their project timetable to constituents. This discussion was the first of what will become a quarterly review of the Board's project timetable.

Board members noted that because of constraints on staff, the IASB had often used IFRIC dedicated staff to provide support for IASB projects. Some Board members thought this inappropriate. The IFRIC should have dedicated resources, free from Board 'poachers.'

The Board agreed that the project plan for items on the joint FASB-IASB agenda should be consistent between the FASB and the IASB. In addition, at each quarterly review, the project staff would provide a copy of a revised project summary that would include project milestones (when due process documents are expected). The project timetable and individual project summaries would be available on the IASB website. There should be a better explanation of the research agenda.

The Board agreed to experiment with an approach that would provide more detail of due process documents for immediate periods and less for periods further out. Thus, there would be a detailed quarterly plan for the current year; a half-year split for the next year and a 'whole year' indication for the subsequent year. This plan would be subject to Board member review and approval (out of session).

A Board member wanted the project plan to be an assessment tool, although this was not generally supported.

This summary is based on notes taken by observers at the meeting and should not be regarded as an official or final summary.

The IASB publishes summaries of the deliberations at Board meetings in its newsletter IASB Update. Past issues of IASB Update are available on IASB's Website. On Individual Project Pages on the IASB Website you will find links to observer notes and excerpts from IASB Update relating to that project.

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