This IASB Update highlights preliminary decisions of the International Accounting Standards Board (IASB). Projects affected by these decisions can be found on the work plan. The IASB's final decisions on IFRS® Accounting Standards, Amendments and IFRIC® Interpretations are formally balloted as set out in the IFRS Foundation's Due Process Handbook.
Contents
Work plan overview
Research and standard-setting
- Pollutant Pricing Mechanisms (Agenda Paper 10)
- Business Combinations—Disclosures, Goodwill and Impairment (Agenda Paper 18)
Maintenance and consistent application
- Consistent application activities (Agenda Paper 12)
- Classification of Cash Flows related to Variation Margin Calls on ‘Collateralised-to-Market’ Contracts (IAS 7) (Agenda Paper 12A)
- IFRIC Update November 2024 (Agenda Paper 12B)
- Provisions—Targeted Improvements (Agenda Paper 22)
- Updating IFRS 19 Subsidiaries without Public Accountability: Disclosures (Agenda Paper 32)
Work plan overview
IASB work plan update (Agenda Paper 8)
The IASB met on 29 January 2025 to discuss an updated draft framework to help prioritise the technical projects on its work plan.
The IASB was not asked to make any decisions.
IAS 29 Financial Reporting in Hyperinflationary Economies—Feedback (Agenda Paper 8A)
The IASB discussed stakeholders’ concerns and challenges related to applying IAS 29 Financial Reporting in Hyperinflationary Economies, which were identified through horizon scanning.
The IASB was not asked to make any decisions.
Next steps
The IASB will test the draft framework and seek further feedback on the framework from the Due Process Oversight Committee of the Trustees of the IFRS Foundation.
Research and standard-setting
Pollutant Pricing Mechanisms (Agenda Paper 10)
The IASB met on 29 January 2025 to discuss whether to add a project on pollutant pricing mechanisms to its work plan or defer the decision until the next agenda consultation.
The IASB decided to defer the decision until the agenda consultation.
Thirteen of 14 IASB members agreed with this decision.
Next step
A project on pollutant pricing mechanisms remains on the IASB’s reserve list of projects and the IASB will continue to monitor the topic.
Business Combinations—Disclosures, Goodwill and Impairment (Agenda Paper 18)
The IASB met on 28 January 2025 to discuss stakeholder feedback on the Exposure Draft Business Combinations—Disclosures, Goodwill and Impairment. The IASB also discussed its plan to redeliberate the proposals in the Exposure Draft.
The IASB was not asked to make any decisions.
Next step
The IASB will begin redeliberating the proposals in the Exposure Draft.
Maintenance and consistent application
Consistent application activities (Agenda Paper 12)
The IASB met on 28 January 2025:
- to consider an agenda decision discussed at the November 2024 meeting of the IFRS Interpretations Committee (Committee) (Agenda Paper 12A); and
- to receive an update on other matters discussed at that meeting (Agenda Paper 12B).
Classification of Cash Flows related to Variation Margin Calls on ‘Collateralised-to-Market’ Contracts (IAS 7) (Agenda Paper 12A)
The IASB was asked whether it objected to the prospective Agenda Decision Classification of Cash Flows related to Variation Margin Calls on ‘Collateralised-to-Market’ Contracts (IAS 7 Statement of Cash Flows).
No IASB member objected to the prospective Agenda Decision.
Next step
The Agenda Decision will be published in January 2025 in an addendum to IFRIC Update November 2024.
IFRIC Update November 2024 (Agenda Paper 12B)
The IASB received an update on the Committee’s November 2024 meeting. Details of this meeting were published in IFRIC Update November 2024.
The IASB was not asked to make any decisions.
Provisions—Targeted Improvements (Agenda Paper 22)
The IASB met on 28 January 2025 to consider stakeholder requests to extend the 120-day comment period for the Exposure Draft Provisions—Targeted Improvements.
The IASB decided to retain the 120-day comment period. The comment deadline remains 12 March 2025.
Twelve of 14 IASB members agreed with this decision.
Next step
The IASB will consider feedback on the Exposure Draft.
Updating IFRS 19 Subsidiaries without Public Accountability: Disclosures (Agenda Paper 32)
The IASB met on 29 January 2025 to discuss feedback on its Exposure Draft Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures, which sets out proposed amendments to IFRS 19 for new and amended IFRS Accounting Standards issued between February 2021 and May 2024.
The IASB was not asked to make any decisions.
Next step
The IASB will consider the feedback, and whether it should change any of its proposals, at a future meeting.
