IASB research programme

Keywords: Mazars, Thailand, IFRS, IASB, IAS, SMEs

8 July 2016

At its meeting of May 2016, the IASB discussed its research programme in general and some of its research projects in particular.

The board came to the following decisions:

• Termination of projects: share-based payments (IFRS 2), post employment benefits (IAS 19, with the exception of one topic, see below), and income taxes (IAS 12);
• Confirmation of termination of projects: high inflation (IAS 29), foreign currency translation (IAS 21);
• Continuation of work on the following topics in the active research programme: 
  • Disclosure Initiative;
  • Primary Financial Statements;
  • Distinction between Debt and Equity;
  • Goodwill and Impairment;
  • Dynamic Risk Management; and
  • Business Combinations under Common Control.
• The following topics will be entered or maintained in the ‘research pipeline’: 
  • Equity Method of Accounting; this topic has been postponed until the results of the forthcoming Post Implementation Review of the consolidation packages are known (IFRS 10, 11 and 12 and IAS 28);
  • Extractive Activities;
  • Pollutant Pricing Mechanisms;
  • Provisions, Contingent Liabilities and Contingent Assets;
  • Variable and Contingent Consideration;
• Launch of three feasibility studies: 
  • SMEs that are subsidiaries—to assess whether it would be feasible to permit SMEs to use the recognition and measurement requirements in IFRS Standards and the disclosure requirements in the IFRS for SMEs;
  • Post-employment Benefits that depend on asset returns—to assess whether it would be feasible to take account of the relationship between the cash flows included in the measurement of those benefits and the discount rate;
  • High Inflation—to assess whether it would be feasible to extend the scope of IAS 29, Financial Reporting in Hyperinflationary Economies, to cover economies subject to only high inflation. 

The board will continue to discuss its work plan in June 2016.