IASB work plan update for April 2014

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30 Apr 2014

Following its recent meeting, the International Accounting Standards Board (IASB) has updated its work plan. Significant updates include (1) the addition of the public consultation period for the macro hedge accounting discussion paper, (2) extension of redeliberations on insurance contracts and leases to the second quarter of 2014, (3) move of rate regulation project from a major project to a research project, and (4) move of the disclosure initiative from a narrow-scope project to a major project with an exposure draft on net debt (now called ‘reconciliation of liabilities from financing activities’) expected in the fourth quarter of 2014 and redeliberations on the amendments to IAS 1 to begin in the third quarter of 2014. The finalised standard for revenue recognition is expected to be issued in the second half of May 2014.

Current status

The revised time table for the major projects is now as follows:

Project Current status Next project step Expected timing
Conceptual Framework — Comprehensive IASB project Redeliberations Exposure draft Q4 2014
Financial instruments — Impairment Redeliberations Finalised IFRS Q2 2014
Financial instruments — Macro hedge accounting Discussion paper Public consultation Q2 and Q3 2014*
Financial instruments — Limited reconsideration of IFRS 9 (classification and measurement) Redeliberations Finalised IFRS Q2 2014
Insurance contracts Re-exposure Redeliberations Q2 2014*
Leases Re-exposure Redeliberations Q2 2014*
Rate-regulated activities Research / deliberations Discussion paper Q2 or Q3 of 2014*
Disclosure initiative — Amendments to IAS 1 Exposure draft Redeliberations Q3 2014*
Disclosure initiative — Reconciliation of liabilities from financing activities Redeliberations Exposure draft Q4 2014*
Revenue recognition Redeliberations Finalised IFRS Q2 2014

* Indicates a change since the prior work plan update.
According to the April 2014 summary of the DPOC meeting, this may change to the beginning of the third quarter 2014.
Now a research project.


Changes concerning narrow scope projects are:

Click for the IASB work plan dated 30 April 2014 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.

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