Updated IASB work plan — Analysis (December 2019)

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14 Dec 2019

Following the IASB's December 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 November.

Below is an analysis of all changes made to the work plan since our last analysis on 25 November 2019.

Standard-setting projects

No changes.

Maintenance projects

  • 2019 comprehensive review of the IFRS for SMEs Standard — A request for information is now expected in January 2020 (formerly Q1 2020).
  • Amendments to IFRS 17 'Insurance Contracts' — A final amendment is now expected in H1 2020 (formerly Q2 2020).
  • Annual improvements (2018-2020 cycle) — All projects that are part of this cycle have now been aligned to say that final amendments are now expected in Q2 2020 (formerly some said Q2 2020 and some H1 2020); projects that belong to the annual improvement cycle are:
    • Fees in the ‘10 per cent’ test for derecognition of financial liabilities (Amendments to IFRS 9);
    • Lease incentives (amendments to illustrative example 13 accompanying IFRS 16);
    • Subsidiary as a first-time adopter (amendments to IFRS 1);
    • Taxation in fair value measurements (amendments to IAS 41).
  • Disclosure initiative - Accounting policies — Comments on the Exposure Draft (ED) were due 29 November 2019; feedback on the ED is now expected in February 2020.
  • IBOR reform and its effects on financial reporting: phase 2 — An exposure draft is now expected in Q2 2020 (formerly H1 2020).
  • Onerous contracts - Cost of fulfilling a contract — A final amendment is now expected in H1 2020 (formerly H2 2020).
  • Updating a reference to the Conceptual Framework (amendments to IFRS 3) — A final amendment is now expected in Q2 2020 (previously no date given).

Research projects

  • Goodwill and impairment — A discussion paper is now expected in February 2020 (formerly Q1 2020).
  • Post-implementation review of IFRS 10, IFRS 11 and IFRS 12 — A review of the research is now expected in February 2020 (previously no date given).

Other projects

  • IFRS Taxonomy update: interest rate benchmark reform (amendments to IFRS 9, IAS 39 and IFRS 7) — Comments on the proposed update were due 13 December 2019; there are no further dates given.

The above is a faithful comparison of the IASB work plan at 25 November and at 14 December 2019. For access to the current IASB work plan at any time, please click here.

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