IASB issues work plan update
05 May 2015
After its April meeting, the IASB has updated its work plan. The revised plan narrows the expected issuance of the leases standard to the fourth quarter of 2015, shifts the expected issuance of an exposure draft for annual improvements 2014-2016 and redeliberations for classification and measurement of share-based payment transactions to the third quarter of 2015, and shows redeliberations for the disclosure initiative (amendments to IAS 7) project to occur in the second quarter of 2015. In addition, two projects have been added on the transfer of investment property, which has a target ED in the third quarter of 2015, and uncertainties in income taxes, which has a target draft interpretation in the second quarter of 2015.
Current status
The revised timetable for the major projects is now as follows:
Project | Current status | Next project step | Expected timing |
---|---|---|---|
Conceptual Framework — Comprehensive IASB project | Redeliberations | Exposure draft | Q2 2015 |
Financial instruments — Macro hedge accounting | Comment letter analysis | Redeliberations | Q2 2015 |
Insurance contracts | Reexposure | Redeliberations | Q2 2015 |
Leases | Reexposure | Target IFRS | Q4 2015* |
Disclosure initiative — Principles of disclosure | Board discussion | Target discussion paper | Q4 2015 |
Disclosure initiative — Reconciliation of liabilities from financing activities | ED | Redeliberations | Q2 2015* |
IFRS for SMEs — Comprehensive review | Redeliberations | Target IFRS | Q2 2015 |
Rate-regulated activities | Discussion paper | Board discussion | Q2 2015 |
* Indicates a change since the previous work plan update on 24 March 2015.
Minor updates regarding the research projects include:
- Renaming of the general disclosure review project to “Standards—level review of disclosures” and setting board discussions to the fourth quarter of 2015.
- Moving the target draft practice statement for the materiality project to the third quarter of 2015.
The revised IASB work plan is available on the IASB's Web site. We have updated our project pages to reflect the updated work plan and other known developments.
Related Topics
- IAS 12 — Accounting for uncertainties in income taxes
- Annual improvements — 2014-2016 cycle
- Disclosure initiative — Disclosure review
- Disclosure initiative — Net debt
- Leases (IFRS 16)
- IFRS 2 — Clarifications of classification and measurement of share based payment transactions
- IAS 40 — Transfers of investment property