IASB work plan updated in 2020

Keywords: Mazars, Thailand, IFRS, IASB

26 October 2020

Standard-setting projects

• Management Commentary: an exposure draft to revise the IFRS Practice Statement is now scheduled for the first half of 2021 (previously the second half of 2020).
• Rate-regulated Activities: an exposure draft is now scheduled for the fourth quarter of 2020 (previously the second half of 2020).

Maintenance projects

• Deferred Tax related to Assets and Liabilities arising from a Single Transaction: the IASB will decide on the project direction for the proposed amendments to IAS 12 (published in July 2019) during the fourth quarter of 2020.
• Lease Liability in a Sale and Leaseback: the exposure draft of proposed amendments to IFRS 16, specifying how a seller-lessee should subsequently measure the liability arising from a sale-and-leaseback transaction with variable lease payments, is now scheduled for November 2020 (previously September 2020).

Research projects

• Business Combinations under Common Control: a Discussion Paper will be published in November 2020 (previously the third quarter of 2020).
• Extractive Activities: the project direction will be decided in the first half of 2021.
• Financial Instruments with Characteristics of Equity: the IASB will decide on the direction of the debt/equity project in the fourth quarter of 2020 (previously the second half).
• Pension Benefits that Depend on Asset Returns: a review of the initial research is scheduled for the fourth quarter of 2020 (previously the second half).
• Post-implementation Review of the consolidation package (IFRS 10, IFRS 11, IFRS 12): a Request for Information is scheduled for the fourth quarter of this year (previously October 2020).

The IASB’s work plan is available on the IASB’s website.