Technical Plan

Date recorded:

The IASB held a brief discussion of the technical plan. The plan will be discussed at the joint session of the IASB and FASB on 21/22 October 2008 after which the plan will be issued via the IASB's Website.

The staff noted that two due process documents had been issued in the current week: the exposure draft of enhanced disclosures in IFRS 7 and the discussion paper on financial statement presentation. With respect to amendments to IFRS 7, the staff hopes to complete this project and issue a revised IFRS 7 in the first quarter 2009. The staff also noted that the discussion paper on the measurement chapter of the Framework is now expected in the second half of 2009 (as opposed to 2Q09).

A Board member asked whether there were any projects for which the staff were concerned that the schedule was aggressive or tight. It was noted that revenue recognition and financial statement presentation had very tight timetables, but the staff were currently confident that the scheduling could be achieved.

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