Global Standards for the world economy

Wednesday 23 August 2017

IASB work plan

ProjectsWork plan for IFRS

Work plan for IFRS

Work plan—as at 18 May 2017

Active
Projects
Maintenance of
IFRS Standards
Completed
IFRS Standards
Agenda Consultation

To learn more about any project listed below, click on the project name.

Next major milestone

Current activity Within
3 months Within
6 months After
6 months

Research Projects

Disclosure Initiative:
Principles of Disclosure
(Comment period ends 2 October 2017)

Public Consultation

Decide Project Direction

Primary Financial Statements

Analysis

Publish DP
or ED

Business Combinations
under Common Control

Analysis

Publish DP

Dynamic Risk Management

Analysis

Publish DP

Financial Instruments
with Characteristics of Equity

Drafting

Publish DP

Goodwill and Impairment

Analysis

Decide Project Direction

Discount Rates

Drafting

Publish Research Summary

Share-based Payment

Drafting

Publish Research Summary

Standard-setting and related projects

Conceptual Framework

Drafting

Publish Conceptual Framework

Disclosure Initiative:
Materiality Practice Statement

Drafting

Publish Practice Statement
(Expected June)

Disclosure Initiative:
Definition of Materiality
(Proposed amendments to IAS 1
and IAS 8)

Drafting

Publish ED
(Expected June)

Rate-regulated Activities

Analysis

Publish DP

Publication dates of documents may change to reflect the Board’s priorities.

The Board’s plan for Better Communication

A major theme of the Board’s work is its plan for better communication in financial reporting. That plan includes a Disclosure Initiative, a project on Primary Financial Statements and other projects, including work on the IFRS Taxonomy. To learn more about the Board’s plan for better communication in financial reporting click here.

IFRS for SMEs Standard

The Board plans to start its next comprehensive review of the IFRS for SMEs Standard in 2019.

Research activities

Before the Board starts a project to make a major amendment to IFRS Standards, it carries out a research project to gather evidence about whether that amendment is needed. To learn more about the Board’s evidence-based approach to standard-setting click here.

The Board has gathered sufficient evidence to establish that no further action is needed for some research projects. Click here to read about those projects.

The research pipeline

The Board intends to commence research on further topics before 2021. Click here to read about the research pipeline.

Print-friendly PDF Work plan guide

Next major milestone

Current activity Within
3 months Within
6 months After
6 months

Narrow-scope amendments and
IFRIC Interpretations

Accounting Policies and Accounting Estimates
(Proposed amendments to IAS 8)

Drafting

Publish ED
(expected June)

Classification of Liabilities
(Amendments to IAS 1)

Analysis

Issue IFRS Amendment

Definition of a Business
(Proposed amendments to IFRS 3)

Analysis

Decide Project Direction

Previously Held Interests in a Joint Operation
(Amendments to IFRS 3 and IFRS 11)

Analysis

Issue IFRS
Amendment

Improvements to IFRS 8 Operating Segments
(Proposed amendments to IFRS 8 and IAS 34)
(Comment period ends 31 July 2017)

Public Consultation

Decide Project Direction

Plan Amendment, Curtailment or Settlement / Availability of a Refund
(Amendments to IAS 19 and IFRIC 14)

Analysis

Issue IFRS Amendment

Property, Plant and Equipment: Proceeds before Intended Use
(Proposed amendments to IAS 16)

Drafting

Publish ED
(Expected June)

Prepayment Features with Negative Compensation
(Proposed amendments to IFRS 9)
(Comment period ends 24 May 2017)

Public Consultation

Decide Project Direction

Uncertainty over Income Tax Treatments
(IFRIC Interpretation)

Drafting

Issue IFRIC Interpretation
(Expected June)

Annual Improvements 2015-2017

Analysis

Decide Project Direction

Long-term interests in associates and joint ventures
(Amendments to IAS 28)
(Previously part of Annual Improvements 2015-2017)

Analysis

Issue IFRS Amendment

Annual Improvements
(next cycle)

Analysis

Publish ED

IFRS Taxonomy

IFRS Taxonomy Update on Insurance Contracts
(Comment period ends 18 September 2017)

Public Consultation

Publish Update

Post-implementation Reviews

PIR of IFRS 13 Fair Value Measurement

Drafting

Publish Request for Information
(Expected May)

PIR of IFRSs 10-12 relating to consolidated financial statements,
and joint arrangements

Initiate PIR

The Board conducts post-implementation reviews (PIRs) of significant new IFRS Standards.
In addition, the Board may decide to conduct a PIR of other Standards. Click here to learn more about PIRs.

The Board also plans to conduct a PIR of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations in due course.

Print-friendly PDF Work plan guide

This list provides an overview of recently issued IFRS Standards and corresponding effective dates.

Standard-setting and related projects Issued
date Effective
date Additional information

IFRS 9 Financial Instruments

July 2014

1 January 2018

IFRS 14 Regulatory Deferral Accounts

January 2014

1 January 2016

IFRS 15 Revenue from Contracts with Customers

May 2014

1 January 2018

In September 2015 the Board deferred the effective date of IFRS 15 by one year to
1 January 2018.

Clarifications to IFRS 15 Revenue from Contracts with Customers

April 2016

1 January 2018

IFRS 16 Leases

January 2016

1 January 2019

IFRS 17 Insurance Contracts

May 2017

1 January 2021

2015 Amendments to the IFRS for SMEs

May 2015

1 January 2017

Narrow-scope amendments Issued
date Effective
date

Accounting for Acquisitions of Interests in Joint Operations
(Amendments to IFRS 11)

May 2014

1 January 2016

Clarification of Acceptable Methods of Depreciation and Amortisation
(Amendments to IAS 16 and IAS 38)

May 2014

1 January 2016

Agriculture: Bearer Plants
(Amendments to IAS 16 and IAS 41)

June 2014

1 January 2016

Equity Method in Separate Financial Statements
(Amendments to IAS 27)

August 2014

1 January 2016

Sale or Contribution of Assets between an Investor and its Associate or Joint Venture
(Amendments to IFRS 10 and IAS 28)

September 2014

—*

* In December 2015 the Board postponed the effective date of this amendment indefinitely pending the outcome of its research pipeline project on the equity method of accounting.

Annual Improvements 2012-2014