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Updated IASB work plan — Analysis

  • IASB (International Accounting Standards Board) (blue) Image

18 Dec 2017

Following the IASB's December 2017 meeting, we have analysed the IASB work plan to see what changes have resulted from the meeting and other developments in December. Changes are numerous.

Below is an analysis of all changes made to the work plan since our last analysis on 17 November 2017.

Maintenance projects

  • Accounting policies and accounting estimates (amendments to IAS 8) — exposure draft feedback is now expected March 2018 (previously set to Q1 2018).
  • Accounting policy changes (amendments to IAS 8) — an exposure draft is now expected March 2018 (previously set to Q1 2018).
  • Property, plant and equipment: proceeds before intended use (amendments to IAS 16) — next milestone is now an IFRS amendment. No expected date provided.

Standard-setting projects

  • Conceptual framework — issuance is now expected March 2018 (previously set to Q1 2018).
  • Definition of material (amendments to IAS 1 and IAS 8) — Discussions on feedback of the exposure draft are now expected March 2018 (previously set to February 2018).
  • Rate-regulated activities — a discussion paper or exposure draft is now expected in 2019 (previously set to H1 2018).

Research projects

  • Dynamic risk management — discussion paper pushed to 2019 (previously set to H2 2018).
  • Post-implementation review of IFRS 13 Fair Value Measurement — request for information feedback is now expected in January 2018 (previously set to December 2017).
  • Principles of disclosure — Discussions on feedback of the discussion paper are now expected March 2018 (previously set to Q1 2018).

Other projects

  • IFRS Taxonomy Update — 2017 Annual Improvements — issued the proposed update in November 2017. The project is now in the feedback stage with comments due by 29 January 2018. Discussions on feedback of the exposure draft are expected in February 2018
  • IFRS Taxonomy Update — IFRS 17 Insurance contracts — final update is now expected in January 2018 (previously December 2017).
  • IFRS Taxonomy Update — Prepayment features with negative compensation (amendment to IFRS 9) — Discussions on feedback of the proposed update are now expected February 2018 (previously set to Q1 2018).

The IASB has also added two new projects to its website as a result of discussions at its December meeting, although these don't show in the work plan yet:

In addition, changes to the work plan due to the issuance of the Annual Improvements to IFRS Standards 2015–2017 include the roll-off of (1) borrowing costs eligible for capitalisation, (2) income tax consequences of payments on instruments classified as equity (amendments to IAS 12), and (3) previously held interests in a joint operation (amendments to IFRS 3 and IFRS 11).

The above is a faithful comparison of the IASB work plan at 17 November 2017 and at 18 December 2017. For access to the current IASB work plan at any time, please click here.

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