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Updated IASB work plan — Analysis (October 2021)

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

01 Nov 2021

Following the IASB's October 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 September 2021.

Below is an analysis of all changes made to the work plan since our last analysis on 27 September 2021.

Standard-setting projects

  • Management commentary Feedback on the exposure draft will now be discussed in Q1 2022 (previously H1 2022)
  • Rate-regulated activities The discussion of feedback to the exposure draft will continue in November 2021

Maintenance projects

  • Initial application of IFRS 17 and IFRS 9 — Comparative Information — After discussion of the feedback received at the October 2021 meeting, final amendments are expected in December 2021
  • IAS 21 — Lack of exchangeability — The discussion of feedback is now expected in January 2021 (previously Q1 2022)
  • Lease liability in a sale and leaseback — a decision on the project direction is now expected in December 2021 (previously Q4 2021)

Research projects

  • Business combinations under common control — Feedback received on the discussion paper will now be discussed in December 2021 (previously Q4 2021)
  • Goodwill and impairment — A decision on the project direction is now expected in Q1 2022 (previously H1 2022)
  • Pension benefits that depend on asset returns The IASB decided at the October 2021 meeting to discontinue this project; the publication of a project summary will be the final project step (no date given)
  • Post-implementation review of IFRS 10-12 A feedback statement is now expected in H1 2022 (previously Q1 2022)
  • Post-implementation review of IFRS 9 A request for information was published on 30 September 2021, the discussion of the feedback received is expected in H1 2022

Other projects

  • IFRS Taxonomy Update — 2021 General improvements and common practice newly added to the work plan; a proposed update is expected in December 2021
  • IFRS Taxonomy Update — Amendments to IAS 1, IAS 8 and IFRS Practice Statement 2 a final update is now expected in December 2021 (previously November 2021)
  • IFRS Taxonomy Update — Initial Application of IFRS 17 and IFRS 9 ― Comparative Information newly added to the work plan; a proposed update is expected in December 2021
  • Sustainability-related reporting While the work plan still says that the discussion of the feedback on the exposure draft is expected to occur in October 2021, the publicly expected next step is a formal announcement of the current state of developments at COP26

The above is a faithful comparison of the IASB work plan at 27 September 2021 and 1 November 2021. 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.