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Work plan — PIRs and agenda consultation

Date recorded:

Considering timing of post-implementation reviews as part of the 2020 Agenda Consultation (Agenda Paper 8)


At its October 2020 meeting, the Board decided to begin the post-implementation review (PIR) of the IFRS 9 classification and measurement requirements and reconsider at a later date when to begin the PIRs of the IFRS 9 impairment and hedge accounting requirements and of IFRS 15 (the remaining PIRs).

To provide some indication of timing of the remaining PIRs, the staff suggested the Board reconsider the start dates of the remaining PIRs ‘as part of the agenda consultation’. However, the discussion indicated different views on the approach to this reconsideration.

Staff recommendation

The staff believe it is unnecessary to explicitly seek feedback on the start dates of the remaining PIRs and recommended the Board reconsider the start dates of the remaining PIRs in the second half of 2021.

Board discussion

One Board member said that the Board should not ask for a start date in the Request for Information on the 2020 Agenda Consultation (RFI), however it would be good to ask how to prioritise the remaining PIRs compared to other standard-setting projects. This should include the PIR on IFRS 16, as it also falls into the time covered by the RFI (2021-2026). The staff responded that the PIRs are mandatory, so it should not be necessary to ask if they should be prioritised.

Board decision

12 of the 13 Board members agreed with the staff recommendation not to seek feedback on the start dates of the PIRs, while all of the Board members agreed to reconsider the start dates of the PIRs in the second half of 2021.

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