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Saturday 27 December 2014

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 Project history


Stage 1: Setting the agenda

The Board formally adopted this project in July 2006. It is a standing technical agenda project. The Board evaluates whether an amendment is appropriate to address the identified issue in this project the same way as it evaluates all other technical agenda decisions which requires judgment.

Stage 2: Project Planning

This project is being conducted by the IASB only. It is limited to amendments to standards that are non-urgent but necessary improvements. A working group has not been established as the scope of the project is limited.

Stage 3: Development and publication of a discussion paper or an exposure draft

A discussion paper is not a mandatory step in the IASB Due Process Handbook. A discussion paper is not necessary for this project as the exposure draft process is expected to provide the most suitable opportunity for feedback on the proposals.

Stage 4: Developing an Exposure Draft

In the third or fourth quarter of the year, an omnibus exposure draft of the proposals deliberated by the Board in the prior twelve months is published for public comment, with a comment period of 90 days.