Updated IASB work plan — Analysis (April 2021)

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

30 Apr 2021

Following the IASB's April 2021 meeting, we have analysed the IASB work plan to see what changes have resulted from the meetings and other developments since the work plan was last revised in March 2021. The IASB has changed the display format of its work plan, which now, for example, also includes references to the standards affected.

Below is an analysis of all changes made to the work plan since our last analysis on 26 March 2021.

Stan­dard-set­ting projects

  • Disclosure Initiative — Subsidiaries that are SMEs — the issuance of an exposure draft is now expected in July 2021 (pre­vi­ously Q3 2021).
  • Management Commentary — As reported earlier, the issuance of an exposure draft is now expected in May 2021 (pre­vi­ously April 2021).
  • Second Comprehensive Review of the IFRS for SMEs Standard — This project has been moved from research project to standard-setting project; the next milestone continues to be an exposure draft with no date given.

Main­te­nance projects

  • IFRS 16 and COVID-19 — This project has been removed from the work plan due to the issuance of the IFRS amendments.
  • Lack of Exchangeability (Amendments to IAS 21) — Discussions on the feedback to the exposure draft published on 20 April 2021 are expected in H2 2021.

Research projects

  • Dynamic Risk Management — The project is now in the decide project direction stage. No expected date is given.
  • Extractive Activities — The decision on the project direction is pushed into Q3 2021 (previously May 2021).
  • Goodwill and Impairment — The decision on the project direction is now expected in May 2021 (previously April 2021).
  • Pension Benefits that Depend on Asset Returns — The review of the research is now expected in Q3 2021 (previously April 2021).
  • Post-implementation Review of IFRS 9 — Classification and Measurement — A request for information is now expected in Q3 2021 (previously H2 2021).

Other projects

  • IFRS Taxonomy Update — Amendments to IAS 1, IAS 8 and IFRS Practice Statement 2 — Discussions on the feedback on the proposed IFRS Taxonomy Update published on 21 April 2021 is expected in Q3 2021.
  • Sustainability Reporting — Feedback on the proposed amendments to the IFRS Foundation Constitution is expected in Q4 2021.
  • Third Agenda Consultation — Feedback on the request for information published on 30 March 2021 is expected in H2 2021.

The above is a faithful com­par­i­son of the IASB work plan at 26 March 2021 and 30 April 2021. For access to the current IASB work plan at any time, please click here.

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