1. IASB® Work Plan 2017-2021 Feedback Statement on the
IFRS® Foundation
IASB® Work Plan
Feedback Statement on the
2015 Agenda Consultation
November 2016
The views expressed in this presentation are those of the presenter, not necessarily those of the International Accounting Standards Board (the Board) or IFRS Foundation.
Copyright © IFRS Foundation. All rights reserved

2. Why agenda consultations?2
Opportunity to consult on future priorities
Required by the Board’s due process
Important to consult globally
IFRS Standards are required around the world
83%
122 of 147 jurisdictions require the use of IFRS Standards for all or most publicly accountable companies.
Most of the remaining jurisdictions permit their use.

3. 2015 Agenda Consultation Request for Views Comment deadline
First
Agenda Consultation
Request for Views
August 2015
Comment deadline
Dec 2015
Feedback Statement
Nov 2016
Next
by 2021

4. Extensive consultation
119 comment letters 
more than 30 outreach meetings 
over 160 responses to online survey

5. Level of change Call for a stable platform
Change is a burden on many businesses
Implementing IFRS 9, IFRS 15 and IFRS 16 will require considerable efforts
Outreach fatigue
Stakeholder capacity is also limited

6. Four themes in the feedback received1
Complete remaining large standard-setting projects 2
Promote better communication in financial reporting 3
Continued development of implementation support 4
Focus on fewer research projects

7. 1. Complete standard-setting projects
Key messages received:
Complete leases (now completed) and insurance contracts Standards as a high priority
Prioritise finalising the revised Conceptual Framework
It is fundamental to developing Standards based on clear principles
IFRS Standards should continue to be principle-based
Focus on fewer standard-setting projects
To allow stakeholders to implement new Standards

8. Standard-setting projects
Expected completion
Insurance contracts
2017
Conceptual Framework

9. 2. Promote better communication
Key messages received:
Prioritise projects that are important to investors
Especially better communication of financial performance
Disclosure initiative is important to all stakeholders
Widespread support for work on principles of disclosure

10. 2. Promote better communication
Primary financial statements
Disclosure initiative
IFRS Taxonomy™
Enhanced communications effectiveness of financial statements

11. 3. Implementation and maintenance
Key messages received:
Continue to support stakeholders’ implementation of Standards
Post-implementation Reviews welcomed
Avoid too many narrow-scope amendments
Additional guidance should clarify principles, not introduce complexity and rules

12. Support implementation
Standard issued
Effective date
Post-implementation Review
Support implementation
of new IFRS Standards
Maintain existing IFRS Standards
Education, online tools
Ongoing dialogue and collaboration

13. 4. More focused research programme
Key messages received:
Support for evidence-based standard-setting
The research programme is too ambitious
Clarify the strategy and objective of research and how it fits into the Board’s other activities

14. 4. The importance of research
Research is an essential part of the standard-setting process
Standard-setting is undertaken when the answer to the following questions is ‘yes’:
Does a problem exist?
Does the problem warrant standard-setting?
Can a feasible solution be found?
Research is not lower priority than standard-setting projects
High-priority projects also start with research

15. The refocused research programme
Projects
Primary financial statements
Principles of disclosure
Business combinations under common control
Dynamic risk management
Financial instruments with characteristics of equity
Goodwill and impairment
Share-based payment
Discount rates
Nearly finished

16. Research pipeline Projects
Equity method (for associates and joint ventures)
Extractive activities
Pollutant pricing mechanisms
Provisions
Variable and contingent consideration
Feasibility studies
High inflation, rather than hyperinflation
Pensions: benefits that depend on asset returns
SMEs that are subsidiaries

17. The outcome: a revised work plan
Updated monthly to reflect decisions at Board meetings

18. Contact us 18 6 Keep up to date @IFRS Foundation IFRS Foundation
IFRS Foundation
Comment on our work
go.ifrs.org/comment