Update (Agenda Paper 8)

In this session, the staff provided a view of the Board’s technical projects to support decisions about whether to add or remove projects and assessments of overall progress on the work plan, including project prioritisation and timing.

Since the last update, the Board has added the following narrow-scope projects to its work plan:

• Initial Application of IFRS 17 and IFRS 9—Comparative Information
• Supplier Finance Arrangements
• Classification of Debt with Covenants as Current or Non-current

At a future meeting, the Board will be asked whether it wants to add projects for:

• Interaction of IFRS 10 and IFRS 16—Sale of a Subsidiary with a Leaseback
• Additional guidance in IFRS Practice Statement 2 relating to information about possible future events that have not affected the entity’s financial performance or financial position and have uncertain outcomes, similar to the proposals in the Exposure Draft Management Commentary

The following projects are currently out for consultation:

• Request for Information Third Agenda Consultation, with a comment deadline of 27 September 2021
• Exposure Draft Initial Application of IFRS 17 and IFRS 9—Comparative Information
• Exposure Draft Management Commentary, with a comment deadline of 23 November 2021
• Exposure Draft Disclosure Requirements in IFRS Standards—A Pilot Approach, with a comment deadline of 12 January 2022
• Exposure Draft Subsidiaries with Public Accountability: Disclosures, with a comment deadline of 31 January 2022

The following documents are expected to be published for consultation within approximately the next six months:

• Request for information on the post-implementation review of the classification and measurement requirements in IFRS 9 expected to be published in September 2021
• Exposure Draft on Non-current Liabilities with Covenants (Amendments to IAS 1) expected to be published in November 2021
• Exposure Draft on Supplier Finance Arrangements expected to be published in November 2021

No decisions were asked from the Board. There was no decision on this paper.