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Updated IASB work plan — Analysis (November 2020 meeting)

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

20 Nov 2020

Following the IASB's November 2020 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 October 2020.

Below is an analysis of all changes made to the work plan since our last analysis on 31 October 2020.

Standard-setting projects

  • Disclosure initiative — Subsidiaries that are SMEs — the decision of whether to issue a discussion paper or an exposure draft is now expected in January 2021 (previously December 2020)
  • Management commentary — the issuance of an exposure draft is now expected in the second quarter of 2021 (previously first half of 2021)
  • Rate-regulated activities — the issuance of an exposure draft is now expected in January 2021 (previously first quarter of 2021)

Maintenance projects

  • Accounting policies and accounting estimates (Amendments to IAS 8) — the issuance of final amendments is now expected in the first quarter of 2021 (previously December 2020)
  • Deferred tax related to assets and liabilities arising from a single transaction — the issuance of final amendments is now expected in the second quarter of 2021 (previously no date given)
  • Disclosure initiative — Accounting policies — the issuance of final amendments is now expected in the first quarter of 2021 (previously December 2020)

Research projects

  • Dynamic risk management — the feedback on the core model is expected to be discussed in the second quarter of 2021 (previously first half of 2021)
  • Extractive activities — a decision on the project direction is now expected in the first quarter of 2021 (previously first half of 2021)
  • Post-implementation review of IFRS 9 — newly added to the work plan; next stept in the project will be the issuance of a request for information (no date given)

Other projects

  • IFRS Taxonomy Update — Amendments to IAS 1, IAS 8 and IFRS Practice Statement 2 — the issuance of a proposed IFRS Taxonomy Update is now expected in the first quarter of 2021 (previously December 2020)
  • IFRS Taxonomy Update — Common practice (IAS 19) — the expected date for the issuance of a proposed IFRS Taxonomy Update has been dropped, however, the IASB announced in a press release that the proposed IFRS Taxonomy Update will be issued on 24 November 2020
  • IFRS Taxonomy Update — Interest Rate Benchmark Reform — Phase 2 — the feedback on the proposed IFRS Taxonomy Update has been discussed and a final IFRS Taxonomy Update is now expected in December 2020

The above is a faithful comparison of the IASB work plan at 31 October 2020 and 20 November 2020. 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.