IASB issues work plan update

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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.

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