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Updated IASB work plan — Analysis

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

23 Mar 2018

Following the IASB's March 2018 meeting, we have analysed the IASB work plan to see what changes have resulted from the meeting and other developments in March. Changes are numerous, but most important this time is an unchanged entry: "March 2018" for the Conceptual Framework indicates, that the revised framework will indeed come out next week.

Below is an analysis of all changes made to the work plan since our last analysis on 23 February 2018.

Standard-setting project

  • Conceptual Framework — The revised framework is to be expected next week as the unchanged entry "March 2018" indicates

Maintenance projects

  • Accounting policies and accounting estimates (amendments to IAS 8) — After discussion at the March IASB meeting, the next milestone has changed from "exposure draft feedback" to "decide project direction". No date has been given.
  • Accounting policy changes (amendments to IAS 8) — the work plan states "March 2018" (unchanged entry) and a separate communication confirms that an exposure draft will be published on 27 March 2018.
  • Definition of a business (amendments to IFRS 3) — An IFRS amendment is expected in June 2018 (previously set to Q2 2018).
  • Disclosure initiative — Definition of material (amendments to IAS 1 and IAS 8) — this project has been changed from "standrd-setting" to "maintenance". Exposure draft feedback is still expected in April 2018.
  • Disclosure initiative — Targeted standards-level review of disclosures — newly added to the work plan. The Board will decide project direction in June 2018.
  • Improvements to IFRS 8 Operating Segments (amendments to IFRS 8 and IAS 34) — The Board discussed this topic at its March meeting. A feedback statement is now expected in H2 2018.

Research projects

  • Business combinations under common control — A discussion paper is expected in H1 2019 (pushed back from H2 2018).
  • Disclosure initiative — Principles of disclosure — After this topic was discussed at the March IASB meeting, the next milestone on the work plan was changed from "decide project direction" to "discuss remaining issues" in June 2018.
  • Discount rates — Research summary is expected in June 2018 (updated from Q2 2018).
  • Financial instruments with characteristics of equity — A discussion paper is expected in June 2018 (updated from Q2 2018).
  • Post-implementation review of IFRS 13 Fair Value Measurement — After a discussion at its March meeting, the IASB added an expected date of H2 2018 for its feedback statement.
  • Share-based payment — Research summary is expected in June 2018 (updated from Q2 2018).

Other projects

  • IFRS Taxonomy Update—2017 Annual Improvements — The final update was removed from the IASB’s work plan, as the 2018 IFRS Taxonomy was issued on 16 March 2018.
  • IFRS Taxonomy Update — Common Practice (IFRS 13) — A proposed updated is expected in June 2018 (updated from Q2 2018).
  • IFRS Taxonomy Update — Prepayment features with negative compensation (amendments to IFRS 9) — This was removed from the IASB’s work plan, as the Update was published on 16 March 2018.

The above is a faithful comparison of the IASB work plan at 23 February 2018 and at 23 March 2018. For access to the current IASB work plan at any time, please click here.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.