A Message from Hans Hoogervorst, Chairman of the IASB.
Help us shape financial reporting for the future
Setting priorities is an important part of our work. And to get it right, we need your input. That is why we are seeking your views on whether we have the right priorities for our work plan, and whether the projects we have identified are indeed the most pressing areas for improving International Financial Reporting Standards (IFRS).
The IASB’s current work plan is split into three main categories, which reflect the different stages of the standard-setting process:
- research projects, which are designed to help us better diagnose problem areas in financial reporting, and to consider whether change is warranted before proceeding;
- standard-setting projects, in which we move forward with a project to deliver fundamental improvements to IFRS—most likely resulting in amendments to existing requirements or the introduction of entirely new requirements; and
- maintenance and implementation projects, in which we fine-tune IFRS to deal with practical problems or a lack of consistency in applying the Standards.
In particular, we want to hear your views on whether we have correctly identified the right issues, and whether we have struck the right balance between fundamental improvements to IFRS versus fine-tuning the Standards to keep them fit for purpose.
In parallel with this Agenda Consultation, the Trustees of the IFRS Foundation are also seeking input on the structure and effectiveness of the IFRS Foundation, including the IASB. You may want to provide input to the Trustees on those issues as well.
This is the second time that we have carried out an Agenda Consultation. Your responses to the first one, in 2011, gave us valuable input that helped us to shape the way in which we work and to prioritise our work plan. Now is your chance to have your say on our priorities until 2020 and to help shape financial reporting Standards for the world economy.
We look forward to receiving your comments. The document is out for consultation until 31 December 2015.