IASB Tweaks Its Work Plan

Sunday, May 6, 2012 Print Email

The IASB has released an updated work plan, dated 23 April 2012, which updates the expected timing of various projects. There is only one change, deferring the timing of the post-implementation review of IFRS 3. However, there are a number of milestones expected the coming months.

The post-implementation review of IFRS 3 Business Combinations will now not be initiated before the third quarter of 2012 (previously expected in the second quarter).

The following are the milestones expected to be reached by the end of June 2012:

o Finalised pronouncements from the annual improvements project (2009-2011 cycle) and the proposed amendments to the transitional requirements in IFRS 10 Consolidated Financial Statements

o Review draft of the general hedge accounting chapter of IFRS 9 Financial Instruments (expected to be finalised in the second half of 2012)

o Exposure draft arising from the annual improvements project (2010-2012 cycle)

o Feedback statement from the IASB's agenda consultation 2011

o Request for Views arising from the post-implementation review of IFRS 8 Operating Segments.

Click for IASB work plan as of 23 April 2012 (link to IASB website). We have updated our project pages to reflect the updated work plan and other known developments.

Source: Deloitte

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