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Research programme update

Date recorded:

Research Update (Agenda Paper 8)

In this session, the staff gave a brief update on the research programme since the last update, provided in the Board’s meeting in September 2019.

The main developments in the research programme, including post-implementation reviews (PIRs), since September 2019 are as follows:

  • a) The staff are drafting a Discussion Paper on Goodwill and Impairment. Publication is expected in February 2020.
  • b) The Board has continued its discussions on:
    • i) Business Combinations under Common Control;
    • ii) Dynamic Risk Management;
    • iii) Financial Instruments with Characteristics of Equity
    • iv) Subsidiaries that are SMEs
  • c) The Board has discussed the project on Extractive Activities.
  • d) The Board has not discussed the project on Provisions, but will do so at this meeting.
  • e) The staff have restarted work on the project on Pension Benefits that Depend on Asset Returns.
  • f) The staff have started work on the PIR of IFRS 10-12.
  • g) The staff expect to start work on the pipeline research project on the Equity Method in the next few months because there is some overlap with some of the issues that could be considered in the PIR of IFRS 11.
  • h) It is now unlikely that work will start in the next few months on the other pipeline projects, or on the Post-implementation Review of IFRS 5. This is because of the need to devote resources to high-priority projects, such as the amendments to IFRS 17 and IBOR and to maintain momentum on projects already active.

No decisions were requested of the Board.

Board discussion

One Board member said that going into the next Agenda Consultation, the Board would have to demonstrate what they have achieved since the last Agenda Consultation in 2016. She said it would be good to have an illustration that shows how the list looked like in 2016 and how things have developed since. She also asked what the status was of the “High Inflation: Scope of IAS 29” project. The staff said that national standard-setters are conducting research in that area, however, this research is not very much progressed at this stage. The Executive Technical Director informed that Board that with many projects going into drafting stage and new projects being at a very early stage, the agendas for the Board meetings in the next few months will look slimmer than in the past few months.

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