IASB issues work plan update
26 Mar 2015
Following its March meeting, the IASB has published a new work plan. We summarise the changes for you, which also included changes the IASB made to the 24 February work plan after it was published. Most notable changes are delays in the Conceptual Framework project and in the Principles of disclosure project as well as a new project on Clarifications to IFRS 15.
Current status
The revised time table for the major projects is now as follows:
Project | Current status | Next project step | Expected timing |
---|---|---|---|
Redeliberations |
Exposure draft |
Q2 2015* |
|
Comment letter analysis |
Redeliberations |
Q2 2015* |
|
Re-exposure |
Redeliberations |
Q2 2015* |
|
Re-exposure |
Target IFRS |
H2 2015 |
|
Board discussion |
Target Discussion Paper |
Q4 2015* |
|
Disclosure initiative — Reconciliation of liabilities from financing activities |
Exposure draft |
Public consultation |
Q2 2015* |
Redeliberations |
Target IFRS |
Q2 2015 |
|
Discussion paper |
Board discussion |
Q2 2015* |
* Indicates a change since the previous work plan update on 26 February 2015. The changes were introduced by the IASB as silent updates to the February work plan or as regular updates after the March meeting.
Minor updates regarding the implementation projects (deliberations continuing or moved slightly) affect IAS 1 — Classification of liabilities, IFRS 13 — Unit of account, and IAS 12 — Recognition of deferred tax assets for unrealised losses. In addition, a new project Clarifications to IFRS 15: Issues emerging from TRG discussions has been added to the IASB's work plan.
As regards research projects, board discussions on Disclosure initiative — Disclosure review will extend into the second quarter of 2015 now. Also, new projects have tentatively been introduced on the definition of a business and goodwill.
The revised IASB work plan (dated 24 March 2015) is available on the IASB's website. We have updated our project pages to reflect the updated work plan and other known developments.
Related Topics
- Goodwill and impairment
- IFRS 3 — Definition of a business
- Clarifications to IFRS 15: Issues emerging from TRG discussions
- Conceptual Framework — Comprehensive IASB project
- Disclosure initiative — Disclosure review
- Disclosure initiative — Principles of disclosure
- Disclosure initiative — Net debt
- Financial instruments — Macro hedge accounting
- IAS 1 — Classification of liabilities
- IAS 12 — Recognition of deferred tax assets for unrealised losses
- IFRS 13 — Unit of account
- Insurance contracts — Comprehensive project
- Rate-regulated activities — Comprehensive project