IASB work plan update for January 2014
28 Jan 2014
Following its recent meeting, the International Accounting Standards Board (IASB) has updated its work plan. The target date for publication of the impairment and limited classification and measurement amendments to IFRS 9 have been clarified as being expected in the second quarter of 2014, the release of a Request for Information on the post-implementation review of IFRS 3 brought forward to the first quarter of 2014, and expected redeliberation periods in a number of projects clarified. The work plan also reflects the commencement of preliminary work on the research project on the equity method of accounting.
Current status
The revised time table for the major projects is now as follows:
Project | Current status | Next project step | Expected timing |
---|---|---|---|
Discussion paper |
Redeliberations |
Q1–Q3 2014* |
|
Redeliberations |
Finalised IFRS |
Q2 2014* |
|
Research/deliberations |
Discussion paper |
Q1 2014 |
|
Financial instruments — Limited reconsideration of IFRS 9 (classification and measurement) |
Redeliberations |
Finalised IFRS |
Q2 2014* |
Re-exposure |
Redeliberations |
Q1 2014 |
|
Re-exposure |
Redeliberations |
Q1 2014 |
|
Exposure draft |
Finalised IFRS |
Q1 2014 |
|
Research/deliberations |
Discussion paper |
Q2 2014 |
|
Redeliberations |
Finalised IFRS |
Q1 2014 |
* Indicates a change since the prior work plan update.
Changes concerning narrow scope projects are:
- Redeliberations in the 2012-2014 cycle of annual improvements have been extended to encompass the second and third quarters of 2014
- Redeliberations on the proposed amendments to IAS 27 to allow the equity method in separate financial statements will now occur over the first and second quarters of 2014
- The 'Request for Information' in connection with the Post-implementation review of IFRS 3 is now expected to be published in the first quarter of 2014.
In addition, the IASB's research project on the equity method of accounting has been moved to 'preliminary work conducted' section of the research agenda.
Click for the IASB work plan dated 27 January 2014 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.
Related Topics
- Annual improvements — 2012-2014 cycle
- Conceptual Framework — Comprehensive IASB project
- Equity method of accounting
- Financial instruments — Impairment
- Financial instruments — Limited reconsideration of IFRS 9
- IAS 27 — Equity method in separate financial statements
- Post-implementation review — IFRS 3