IASB updates work plan
22 Apr 2016
Following its April 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 2015, 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.
Changes to the work plan include:
Major projects
- Conceptual framework is now expected to be issued after 6 months. Previously, no timeline was set for issuance.
Implementation projects
- Clarification of Classification and Measurement of Share-based Payment Transactions: The new Standard is now expected in June.
- Transfer of Investment Property: A decision on the direction of this project is now expected within 3 months; previously it was within 6 months.
- Draft IFRIC Interpretation — Foreign Currency Transactions and Advance Consideration: A decision on the direction of this project is now expected within 3 months; previously it was within 6 months.
The revised IASB work plan is available on the IASB's website.
