Summary of changes

Details of the changes are:

Updates to major projects

• Financial instruments - Limited reconsideration of IFRS 9 — redeliberations will now extend into the fourth quarter of 2013 (previously to be completed in the third quarter of 2013)
• Financial instruments - Impairment — redeliberations will now extend into the fourth quarter of 2013 (previously to be completed in the third quarter of 2013)
• Financial instruments - Macro hedge accounting — a discussion paper is now expected in the third or fourth quarter of 2013 (previously third quarter of 2013)
• Insurance contracts — redeliberations will begin in the fourth quarter of 2013 (new entry)

Updates to narrow-scope projects

• IAS 19 - Discount rate — an exposure draft is now expected in the fourth quarter of 2013 (previously third quarter of 2013)
• IFRS 13 - Unit of account — an exposure draft is now expected in the fourth quarter of 2013 (previously third quarter of 2013)
• IAS 32 - Put options over non-controlling interests (NCIs) — an exposure draft is now expected in the fourth quarter of 2013 (previously third or fourth quarter of 2013)
• IAS 27 - Equity method in separate financial statements — an exposure draft is now expected in the fourth quarter of 2013 (previously third quarter of 2013)

Projects where due process documents are expected in the second quarter include a discussion paper on the conceptual framework project, a published report on the post-implementation review of IFRS 8 and finalised amendments on the novation of derivatives.  In addition, an exposure draft of proposed amendments to IAS 41 Agriculture on bearer plants is expected to be issued in the second or third quarter of 2013.

Click for IASB work plan dated 21 June 2013 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.