IASB Work Plan
The Work Plan below has been updated following the decisions made at the IASB meeting in December 2007 and reflects the objectives of the Memorandum of Understanding with the FASB which sets out a roadmap for convergence between IFRSs and US GAAP for the period 2006 - 2008.
Click here to download a copy of the IASB Work Plan.
Follow the link for information on the MoU.
For more information on the projects on the Work Plan, click on the project links embedded in the table below.
Abbreviations used in the IASB Work Plan:
DP Discussion Paper
ED Exposure Draft
RT Round-table discussion
IFRS International Financial Reporting Standard
TBD The type of initial document (DP or ED) is yet to be determined
RR Research report
AD Agenda decision
Notes:
1. The Memorandum of Understanding (MoU) sets out the milestones that the FASB and the IASB have agreed to achieve in order to demonstrate standard-setting convergence, which is one part of the process towards removal of the requirement imposed on foreign registrants with the SEC to reconcile their financial statements to US GAAP.
2. Work on government grants has been deferred pending the conclusion of work on other relevant projects.
3. The IASB and the FASB will publish individual chapters as they complete each phase. Each board will evaluate the practical implications of doing so in the context of its own GAAP hierarchy.
4. The Liabilities project is the amendments to IAS 37.
5. In December 2007 the IASB decided not to add this project to its active agenda.
6. Project is being conducted as a ‘modified joint’ project. The FASB has published a Preliminary Views paper which will form the basis of a Discussion Paper to be issued by the IASB.