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Updated IASB work plan — Analysis (July 2019)

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

29 Jul 2019

Following the IASB's July 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 June.

Below is an analysis of all changes that were made to the work plan since our last analysis on 24 June 2019.

Stan­dard-set­ting projects

  • Management commentary — The expected timing of an exposure draft has been moved to the second half of 2020 (previously first half of 2020).
  • Primary financial statements — The expected date of an exposure draft has been narrowed down to the fourth quarter of 2019 (previously second half of 2019).

Main­te­nance projects

  • 2019 Comprehensive review of the IFRS for SMEs Standard — The expected date for the request for information has been narrowed down to the fourth quarter of 2019 (previously second half of 2019).
  • Accounting policies and accounting estimates (amendments to IAS 8) — A decision on this project’s direction will occur in the fourth quarter of 2019.
  • Amendments to IFRS 17 — Discussions on feedback received on the exposure draft is expected to occur in the fourth quarter of 2019.
  • Classification of liabilities as current or non-current (amendments to IAS 1) — The expected date for the IFRS amendments has been narrowed down to the fourth quarter of 2019 (previously second half of 2019).
  • Deferred tax related to assets and liabilities arising from a single transaction (amendments to IAS 12) — This project is now in the exposure draft comment letter phase. Comments are requested by 14 November 2019.
  • Disclosure initiative — Accounting policies — The work plan still notes that an exposure draft is expected in September 2019, however, the IASB has separately communicated that it expects to publish the ED on 1 August 2019
  • Fees in the ’10 per cent’ test for derecognition of financial liabilities (amendments to IFRS 9) — Discussions on feedback received on the exposure draft is expected to occur in the fourth quarter of 2019.
  • IBOR reform and its effects on financial reporting (Phase 1) — Discussions on feedback received on the exposure draft has been narrowed down to occur in September 2019 (previously third quarter of 2019).
  • Lease incentives (amendments to illustrative example 13 accompanying IFRS 16) — Discussion on feedback received on the exposure draft are expected to occur in the fourth quarter of 2019.
  • Onerous contracts — cost of fulfilling a contract (amendments to IAS 37) — A decision on this project’s direction will occur in September 2019.
  • Property, plant and equipment: Proceeds before intended use (amendments to IAS 16) — IFRS amendments are expected in the first quarter of 2020.
  • Subsidiary as a first-time adopter (amendments to IFRS 1) — Discussion on feedback received on the exposure draft are expected to occur in the fourth quarter of 2019.
  • Taxation in fair value measurements (amendments to IAS 41) — Discussion on feedback received on the exposure draft are expected to occur in the fourth quarter of 2019.

Research projects

  • Dynamic risk management — The expected date for the core model has been narrowed down to the fourth quarter of 2019 (previously second half of 2019).
  • Extractive activities — The expected date to review the research has been narrowed down to the fourth quarter of 2019 (previously second half of 2019).
  • Financial instruments with characteristics of equity — A decision on this project’s direction has been narrowed down to the fourth quarter of 2019 (previously second half of 2019).
  • Goodwill and impairment — The expected date of the discussion paper has been narrowed down to the fourth quarter of 2019 (previously second half of 2019).
  • Pension benefits that depend on asset returns — The expected date to review the research has been narrowed down to the fourth quarter of 2019 (previously second half of 2019).
  • Provisions — The expected date to review the research has be narrowed down to the fourth quarter of 2019 (previously second half of 2019).
  • Subsidiaries that are SMEs — The expected date to review the research has be narrowed down to the fourth quarter of 2019 (previously second half of 2019).

The above is a faithful com­par­i­son of the IASB work plan at 24 June 2019 and at 29 July 2019. For access to the current IASB work plan at any time, please click here.

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