Restarting work on the Conceptual Framework received overwhelming support from respondents to the IASB's agenda consultation in 2011. Consequently, the IASB agreed to restart this project in September 2012.
Working group
In November 2012, the IFRS Foundation issued a proposal to establish an Accounting Standards Advisory Forum (ASAF). The ASAF would provide advice and views to the IASB on major technical issues related to its standard-setting activities and provide input on national and regional issues. The IASB expects the ASAF to play an important role advising it on the Conceptual Framework project. The IASB is currently assessing whether it would benefit from establishing a separate consultative group.
How does this project link with standard-setting projects?
In planning and conducting the work on the Conceptual Framework, the IASB will consider interactions with the IASB’s existing standard-setting projects. Those projects are likely to provide input for the Conceptual Framework and to depend, at least to some extent, on developments in this project.