Global Standards for the world economy

Wednesday 07 December 2016

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IASB work plan

 Work plan—as at 18 November 2016

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
Analysis
Decide Project Scope
Analysis
Publish DP
Analysis
Decide Project Direction
Analysis
Publish Research Summary
Drafting
Publish Research Summary
Standard-setting and related projects
Analysis
Publish Conceptual Framework
Analysis
Publish Practice Statement
Drafting
Issue IFRS Standard
(Expected March)
Analysis
Publish DP

To allow Board members to focus on their review of the forthcoming IFRS Standard on insurance contracts, the Principles of Disclosure Discussion Paper has been rescheduled from December 2016 to the first half of 2017. Publication dates of other documents also remain subject to change.

Insurance Contracts

The timing of the forthcoming IFRS Standard on insurance contracts will be reviewed later in 2016 if necessary, after completing an external review of draft IFRS 17 Insurance Contracts.

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.

Next major milestone
 
Current activity Within
3 months
Within
6 months
After
6 months
Narrow-scope amendments and
IFRIC Interpretations

Changes in Accounting Policies and Estimates

(Proposed amendments to IAS 8)
Drafting
Publish ED

Classification of Liabilities

(Proposed amendments to IAS 1)

Analysis
Issue IFRS Amendment
Public Consultation
Decide Project Direction
Drafting
Issue IFRIC Interpretation
(Expected December)
Drafting
Publish ED
Transfers of Investment Property
(Amendments to IAS 40)
Drafting
Issue IFRS Amendment
(Expected December)
Drafting
Issue IFRIC Interpretation
Drafting
Issue IFRS Amendment
(Expected December)
Drafting
Publish ED
(Expected January)
Drafting
Publish Update
(Expected November)
IFRS Taxonomy Update on Insurance Contracts
Analysis
Publish Proposed Update
(Expected March)
Common Practice–Agriculture, Leisure, Franchises and Retail
Drafting
Publish Proposed Update
(Expected December)
Common Practice–Banks
Drafting
Publish Proposed Update
(Expected December)

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.

1 The work carried out in the maintenance project on Fair Value Measurement: Unit of Account will be fed into the PIR of IFRS 13.

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

July 2014

1 January 2018

January 2014

1 January 2016

May 2014

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

January 2016

1 January 2019

May 2015

1 January 2017
Narrow-scope amendments Issued
date
Effective
date

May 2014

1 January 2016

May 2014

1 January 2016

Agriculture: Bearer Plants

(Amendments to IAS 16 and IAS 41)


June 2014

1 January 2016

August 2014

1 January 2016

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



September 2014

1 January 2016

Investment Entities: Applying the Consolidated Exception

(Amendments to IFRS 10, IFRS 12 and IAS 28)


December 2014

1 January 2016

Disclosure Initiative

(Amendments to IAS 1)


December 2014

1 January 2016

January 2016

1 January 2017

Disclosure Initiative

(Amendments to IAS 7)


January 2016

1 January 2017

June 2016

1 January 2018

September 2016

1 January 2018

Feedback statement published June 2015 - click here.

Feedback statement published July 2013 - click here.


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