Work plan - projected targets as at 23 November 2012
A print-friendly PDF of the work plan is available by clicking here.
The work plan indicates the projected timing of the next milestone in the projects. Once deliberations are complete and before proceeding to the balloting of an exposure draft or IFRS (including amendments) the Board will consider whether re-exposure of the proposal is needed (such as a revised discussion paper or exposure draft). If the boards conclude that re-exposure is necessary the next due process publication will be the re-exposed document. The work plan as displayed assumes that re-exposure is not required and is therefore subject to change on completion of the relevant deliberations. The work plan will be updated once balloting has commenced to indicate the nature of the next due process document (exposure draft or IFRS) and its likely publication date.
| Abbreviations |
|
| AD Agenda decision (to add the topic to the active agenda) |
PS IFRS practice statement |
| Ballot See notes below |
RT Round tables |
| DP Discussion paper |
RV Request for views |
| ED Exposure draft |
TBD To be determined |
| IFRS International Financial Reporting Standard |
|
Ballot
The formal process of seeking the Board’s approval to publish a due process document (discussion paper, exposure draft or IFRS). Once the Board has concluded its deliberations on a particular stage of a project the technical staff prepare the relevant due process document. Each Board member is required to vote, indicating whether they approve the document for publication. Balloting takes place outside of Board meetings. If a document receives enough support it is prepared for publication (print and online). Publication of the approved document normally takes place several weeks or more after the balloting process has been completed. That time is necessary for the discussion paper, exposure draft or IFRS to be formatted and any accompanying documents, such as a feedback statement, to be prepared.
Effective dates
The effective date of amendments and new standards is usually 6-18 months after publication date. In setting an effective date the Board considers all relevant factors. In appropriate circumstances, early adoption of new standards will be allowed.
The Board will consider staggering effective dates of new standards to help entities that apply IFRSs undertake an orderly transition to any new requirements |