Below is an analysis of all changes made to the work plan since our last analysis on 20 November 2023.

Stan­dard-set­ting projects

• Financial instruments with characteristics of equity — After publishing the exposure draft in November 2023, this project is now in the exposure draft feedback stage which is expected to begin in Q1 2024

Main­te­nance projects

• Addendum to the exposure draft 'Third edition of the IFRS for SMEs Accounting Standard' — An exposure draft is now expected in Q2 2024 (previously H1 2024)
• Amendments to the classification and measurement of financial instruments — Final amendments are now expected in Q2 2024 (previously H1 2024)
• Annual Im­prove­ments to IFRS Accounting Standards — Feedback discussions on the exposure draft of the following projects will now begin in Q1 2024 (pre­vi­ously January 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)

• Climate-related and other uncertainties in the financial statements — A direction on the project is now expected in Q2 2024 (previously Q1 2024)
• Power purchase agreements — The IASB has decided to publish an exposure draft as next project step; it is expected in Q2 2024
• Provisions — Targeted improvements — The IASB has decided to publish an exposure draft as next project step; it is expected in Q2 2024

Research projects

• Extractive activities — This project is no longer in the work plan as it has been concluded by publishing a project summary in December 2023

Other projects

• IFRS Accounting Taxonomy Update — Common practice (Financial in­stru­ments) and general im­prove­ments— Feedback dis­cus­sions on the proposed IFRS taxonomy update are expected in February 2024 (previously Q1 2024)
• IFRS Accounting Taxonomy Update — Primary financial statements — A proposed IFRS taxonomy update is now expected in Q2 2024 (previously H1 2024)
• IFRS Accounting Taxonomy Update — Subsidiaries without public accountability: disclosures and amendments to IFRS 7 and IFRS 9 — This project is added to the work plan with a proposed IFRS taxonomy update expected in H2 2024
• IFRS Sus­tain­abil­ity Dis­clo­sure Taxonomy — The issuance of an IFRS Sustainability Disclosure Taxonomy is expected in Q2 2024

The above is a faithful com­par­i­son of the IASB and ISSB work plan at 20 November 2023 and 18 December 2023. For access to the current work plan at any time, please click here.