Changes to IASB's project timetable

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17 Aug 2002

IASB has indicated that target dates for publications on several active projects have been postponed: Exposure Draft (ED) on Business Combinations is now expected in 4th quarter 2002, with a final Standard in the second half of 2003. ED on Activities of Financial Institutions is now planned for 1st quarter 2003, with a final Standard by the end of 2003. The Insurance project has been split into two phases.

The first phase will focus on presentation and disclosure, application of IAS 39 to some insurance contracts, and eliminating a limited number of existing practices that are inconsistent with the IASB Framework, including elimination of catastrophe and equalisation provisions and offsetting of reinsurance. The ED for Phase 1 is now planned for 1st quarter of 2003, with a final Standard in 2004. Phase 2 will develop a comprehensive standard for insurance contracts (timetable not yet established).
  • Final Standards resulting from the Improvements Project and Amendments to IAS 32 and 39 are still on target for 1st quarter 2003.
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