Beyond the GAAP - July-August 2015 issue

A quick glance at the highlight titles and one may get the impression of a focus on “date shifting”. This, however, demonstrates the importance the IASB and others attach to getting or making things right, be it in terms of implementing IFRS 15 or defining the Conceptual Framework, two highly important standard setting projects. Of none less importance, having issued its feedback on its review of the implementation of IFRS 3 on business combinations, the IASB is now consulting on its 2016-onwards work plan and the IFRS Foundation on its governance: it may be helpful for their constituents to consider these documents together and take these occasions to help steer the “how”, the “what” and the “where to” of IFRS standard setting.