Updated IASB and ISSB work plan — Analysis (November 2023)

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

20 Nov 2023

Following the IASB's and ISSB's November 2023 meetings, we have analysed the work plan on the IFRS Foundation website to see what changes have resulted from the meetings and other developments since the work plan was last revised in October 2023.

Below is an analysis of all changes made to the work plan since our last analysis on 30 October 2023.

Stan­dard-set­ting projects

  • Management Commentary — A decision on the project direction is expected in Q2 2024 (previously H1 2024)
  • Primary Financial Statements — An IFRS Accounting Standard is expected in Q2 2024 (previously H1 2024)

Strategy and gov­er­nance projects

  • ISSB Con­sul­ta­tion on Agenda Pri­or­i­ties — The feedback on the request for in­for­ma­tion is now expected in January 2024 (pre­vi­ously December 2023)

Main­te­nance projects

  • Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard — The project has been added to the work plan to reflect amendments issued by the IASB in 2023 with an exposure draft expected in H1 2024
  • Annual Improvements to IFRS Accounting Standards — The following projects will have feedback discussions on their exposure draft in January 2024 (previously Q1 2024):
    • Cost Method (Amendments to IAS 7)
    • Derecognition of Lease Liabilities (Amendments to IFRS 9)
    • Determination of a ‘De Facto Agent’ (Amendments to IFRS 10)
    • Disclosure of Deferred Difference between Fair Value and Transaction Price (Amendments to Guidance on implementing IFRS 7)
    • Gain or Loss on Derecognition (Amendments to IFRS 7)
    • Hedge Accounting by a First-time Adopter (Amendments to IFRS 1)
    • Introduction and Credit Risk Disclosures (Amendments to Guidance on implementing IFRS 7)
    • Transaction Price (Amendments to IFRS 9)

Research projects

  • Business Combinations under Common Control — At its November 2023 meeting, the IASB decided to discontinue this project; a project summary is expected in Q2 2024
  • Post-implementation Review of IFRS 15 — Request for information feedback is expected for January 2024 (pre­vi­ously Q1 2024)
  • Post-implementation Review of IFRS 9 — After discussing the freedback received at its November 2023 meeting, the IASB will now publish a project summary (expected in H2 2024)

Other projects

  • IFRS Accounting Taxonomy Update — Amend­ments to IAS 12, IAS 21, IAS 7 and IFRS 7 — Feedback received will be discussed in January 2024 (previously Q1 2024)
  • IFRS Accounting Taxonomy Update Common Practice (Financial Instruments) and General Improvements — Feedback discussions on the proposed IFRS Taxonomy Update published in November 2023 are expected in Q1 2024
  • IFRS Sus­tain­abil­ity Dis­clo­sure Taxonomy — Dis­cus­sion of the proposed taxonomy feedback is now expected in December 2023 (pre­vi­ously November 2023)

The above is a faithful com­par­i­son of the IASB and ISSB work plan at 30 October 2023 and 20 November 2023. For access to the current work plan at any time, please click here.

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