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The International Accounting Standards Board (IASB) holds a public consultation on its activities and its work plan every five years (agenda consultation). The objective of this agenda consultation was to gather views on:

  • the strategic direction and balance of the IASB’s activities;
  • the criteria for assessing the priority of financial reporting issues that could be added to the work plan; and
  • new financial reporting issues that could be given priority in the IASB’s work plan.

In March 2021 the IASB published a request for information on the Third Agenda Consultation. The IASB started to discuss the feedback from respondents at its November 2021 meeting. At its April 2022 meeting, the IASB concluded its deliberations on the feedback and decisions about its activities and work plan for 2022 to 2026.

In July 2022 the IASB expects to publish a feedback statement summarising the feedback on the Request for Information and the IASB’s activities and work plan for 2022 to 2026.

IASB® Update April 2022

The IASB met on 25 April 2022:

  • to decide which new projects to add to its work plan for 2022 to 2026 (Agenda Paper 24A); and
  • to discuss due process comments made by respondents to the Request for Information Third Agenda Consultation (Agenda Paper 24B).

The IASB also received an update on some national standard-setters’ strategic consultations.

Projects to add to the IASB’s work plan for 2022 to 2026 (Agenda Paper 24A)

At its March 2022 meeting, the IASB shortlisted seven projects for discussion at a future meeting. At its April 2022 meeting, the IASB considered further those shortlisted projects and decided:

  1. to add to its work plan a maintenance and consistent application project on climate-related risks;
  2. to add to the research pipeline projects on:
    1. intangible assets; and
    2. the statement of cash flows and related matters;
  3. to create a reserve list of projects that could be added to the work plan only if additional capacity becomes available;
  4. to add to the reserve list projects on:
    1. operating segments; and
    2. pollutant-pricing mechanisms; and
  5. not to add to its work plan projects on:
    1. cryptocurrencies and related transactions; or
    2. going concern disclosures.

All 10 IASB members agreed with this decision.

Overview of due process comments (Agenda Paper 24B)

The IASB discussed due process comments made by respondents to the Request for Information. The IASB was not asked to make any decisions. The respondents’ comments and the staff’s observations will be communicated to the Due Process Oversight Committee of the IFRS Foundation Trustees.

Next milestone

Feedback Statement