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Meeting Summaries and Agenda Papers

 IASB Update March 2013


The IASB finalised its technical discussions on the limited-scope project on bearer biological assets at its February 2013 meeting. Consequently, the IASB met on 19 March to review the due process steps taken so far and decide whether the staff should begin the balloting process for an Exposure Draft of proposed amendments to IAS 16 Property, Plant and Equipment and IAS 41 Agriculture.

Due process steps and permission for balloting (Agenda Paper 10)

The IASB considered a paper summarising the steps that it has taken in developing the proposals, the action taken to comply with the necessary due process steps and an initial effect analysis of the proposals.

The IASB concluded that it had met the due process requirements and gave permission for the staff to begin the process of balloting the Exposure Draft. In addition, the IASB decided that the Exposure Draft should be open for comment for 120 days. All IASB members agreed.

Two IASB members noted their tentative intentions to dissent from the publication of the Exposure Draft.

Next steps

The IASB will proceed with the balloting process and plans to publish the Exposure Draft for comment in Q2 2013.


Date: 3/19/2013