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Updated IASB work plan — Analysis

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

25 Jan 2019

Following the IASB's January 2019 meeting, we have analysed the IASB work plan to see what changes have resulted from the meeting and other developments since the work plan was last revised in December. Changes are numerous but minor; most revisions narrow down the IASB's previously-set timelines and some are changes that reflect earlier IASB decisions that were previously not reflected in the work plan.

Below is an analysis of all changes that were made to the work plan since our last analysis on 17 December 2018.

Standard-setting projects

  • No changes.

Maintenance projects

  • Accounting Policies and Accounting Estimates — The IASB will decide on the project direction in April 2019 (formerly Q2 2019).
  • Amendments to IFRS 17 Insurance Contracts — An exposure draft is expected in Q2 2019 (formerly H1 2019).
  • Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction — An Exposure Draft is expected in Q2 2019 (formerly H1 2019).
  • Fees in the ‘10 per cent’ Test for Derecognition — An exposure draft is expected in Q2 2019 (formerly H1 2019).
  • IBOR Reform and its Effects on Financial Reporting — Formerly listed as a research project, an exposure draft is expected in Q2 2019 (formerly H1 2019). — NB This update actually reflects a December 2018 decision of the Board.
  • Lease Incentives — An exposure draft is expected in Q2 2019 (formerly H1 2019).
  • Onerous Contracts — Cost of Fulfilling a Contract — Exposure draft feedback is expected in Q2 2019 (formerly H1 2019).
  • Subsidiary as a First-time Adopter — An exposure draft is expected in Q2 2019 (formerly H1 2019).
  • Taxation in Fair Value Measurements — An exposure draft is expected in Q2 2019 (formerly H1 2019). 
  • Updating a Reference to the Conceptual Framework — An exposure draft is expected in Q2 2019 (formerly H1 2019). 

Research projects

  • Business Combinations under Common Control — A discussion paper is expected in H1 2020 (formerly just listed as 2020).
  • Goodwill and Impairment — The next milestone was changed to a discussion paper, instead of the previously-listed "discussion paper or exposure draft."
  • Disclosure Initiative — Principles of Disclosure — A project summary is expected in March 2019 (formerly listed as Q1 2019).
  • Financial Instruments with Characteristics of Equity — Discussion paper feedback is expected in March 2019 (formerly Q1 2019).
  • Provisions — New project added to the work plan; the IASB plans to review research in the second half of 2019. — NB This update actually reflects a December 2018 decision of the Board.

Other projects

  • IFRS Taxonomy Update — 2018 General Improvements — A date of February 2019 was added for the proposed update feedback.
  • IFRS Taxonomy Update — Common Practice (IFRS 13) — The next milestone was changed from "analyse feedback" to "final update" with an expected date of March 2019. — NB This update seems somewhat premature since the feedback received will not by anlysed by the ITCG until its 31 January meeting.
  • Revisions to the Preface to IFRS Standards — Project removed from the work plan. — NB This changed entry actually reflects an October 2018 decision of the Board.

The above is a faithful comparison of the IASB work plan at 17 December 2018 and at 25 January 2019. For access to the current IASB work plan at any time, please click here.

Correction list for hyphenation

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