Current status

The revised timetable for the major projects is now as follows:

* Indicates a change since the previous work plan update on 5 May 2015.

Updates regarding the implementation and research projects include:

• The target Exposure Draft on clarifications to IFRS 15 is now expected in the third quarter of 2015 (was second quarter).
• The Draft Interpretation on uncertainties in income taxes is now expected in the third quarter of 2015 (was second quarter).
• The research projects have been reordered in the following categories:
  • Development phase
  • Assessment phase
  • Exploratory phase
  • PIR follow-up work
  • Completed work
  The PIR follow-up work contains two research projects that the IASB has identified as a consequence of the post-implementation review of IFRS 3 (Definition of a business and Goodwill); the next step in these projects has yet to be determined. Completed work contains two projects where the IASB has completed its initial assessment and has no current plans to undertake additional work (Foreign currency translation and High inflation). During reordering, the project on a standards-level review of disclosures (part of the Disclousre initiative) has gone missing from the work plan.

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.