IASB updates work plan
18 Mar 2016
Following its March 2016 meeting, the IASB has updated its work plan. As mentioned before, directly tracing the Board's progress on the individual projects has become impossible since the change of the work plan format in July, unless the Board makes definite progress or has to make larger corrections. Of these, only a few can be identified since the previous work plan. However, the IASB has begun to indicate the month which issuance of exposure drafts or final standards may occur.
Updates regarding the implementation projects are:
- Amendments to IFRS 4: Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts: No longer has a comment to determine the direction of the project within 3 months, but now includes that a new Standard is expected within 6 months.
- Clarifications to IFRS 8 arising from the Post-implementation Review: The exposure draft is now expect within 6 months, previously it was within 3 months.
- Clarification of Classification and Measurement of Share-based Payment Transactions: The new Standard is now expect within 6 months, previously it was within 3 months.
- Clarifications to IFRS 15 Revenue from Contracts with Customers: Issues Emerging from TRG Discussions: Previously indicated that a new Standard was expected in the March/April 2016 timeframe; now its solely expected in April 2016.
- Classification of Liabilities: The new Standard is now expected after 6 months; previously it was expected within 6 months.
The revised IASB work plan is available on the IASB's website.
Related Topics
- Clarifications arising from the post-implementation review of IFRS 8
- Clarifications to IFRS 15: Issues emerging from TRG discussions
- Different effective dates of IFRS 9 and the new insurance contracts standard
- IAS 1 — Classification of liabilities
- IFRS 2 — Clarifications of classification and measurement of share based payment transactions