Updated IASB work plan
29 Jul 2013
Following its recent meeting, the International Accounting Standards Board (IASB) has updated its work plan. The expected timing in the general hedge accounting standard has been extended to include the fourth quarter of 2013. Also, additional adjustments have been made to narrow scope projects, post-implementation reviews, and the conceptual framework project.
Details of the changes are:
Updates to major projects
- Financial instruments – General hedge accounting — the target for the Standard is now extend into the fourth quarter of 2013 (previously to be completed in the third quarter of 2013)
- Conceptual framework — redeliberations expected in first quarter of 2014
Updates to narrow-scope projects
- Bearer plants (IAS 41) — redeliberations will now start in the first quarter of 2014.
- Disclosure initiative (IAS 1) — added to the work plan; exposure draft targeted for the fourth quarter of 2013. A research project on disclosure has also been formally added to the agenda
- Novation (IAS 39 / IFRS 9) — removed from work plan (issued in second quarter of 2013)
Updates to post-implementation reviews
- IFRS 3 — Request for information is expected in the fourth quarter of 2013.
A Standard on revenue recognition is expected to be issued in the third quarter of 2013.
Click for IASB work plan dated 29 July 2013 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.
