103 - Beyond the GAAP - 09-2016
The IASB’s update to its work plan on 23 September 2016
gives us a good idea of what is on the cards for IFRS over the
next few months. In addition to the Insurance Contracts
standard, which is scheduled for publication in March, and
the Conceptual Framework (date not yet set), the next key
milestones relate to research projects. Discussion Papers
have been announced on business combinations under
common control, dynamic risk management, financial
instruments with characteristics of equity, and rateregulated
As well as these new long-term projects, the IASB has
confirmed that it will publish interpretations on uncertainty
over income tax treatments, and on foreign currency
transactions and advance consideration. Then it will be time
for the Post-implentation Review of the consolidation
standards and of IFRS 13.
With no major changes scheduled over the next few years,
following the implementation of IFRS 9, IFRS 15 and IFRS 16,
the IASB, in the immediate future, will focus on maintenance
of standards, through minor amendments, interpretations,
annual improvements and decisions by the IFRS IC.
Enjoy your reading!