Technical Plan
Date recorded:
The Board discussed progress on the IASB work program. The IASB has published the revised technical plan on its website.
On their short-term agenda the Board have extended the timeframe on two projects:
- Joint ventures: The Board has extended the timeframe for issuing an Exposure Draft (ED) until Q2 of 2007 (from Q4 of 2006). This means that a final IFRS is not expected before 2008.
- Income tax: An ED is now expected to be issued in Q1 of 2007 (previously was Q3 of 2006). This means that a final IFRS is not expected before 2008.
The Board confirmed that it expects to issue a Discussion Paper on post-retirement benefits (including pensions) in Q3 of 2007. No timing is set for an ED or a final IFRS.
Regarding other projects, the Board noted that dates have been moved for two items:
- Earnings per share - treasury stock method (IAS 33): An ED will be issued in Q4 of 2006 (previously was Q3 2006), with a final IFRS expected in second half of 2007.
- First-time adoption - cost of investment in subsidiary (IFRS 1): An ED will be issued in Q4 of 2006 (previously was Q3 2006), with a final IFRS expected in second half of 2007