30 March 2021

IASB seeks comments to help shape its five-year plan

The International Accounting Standards Board (Board) has published a consultation document to seek views on what the Board’s priorities should be over the next five years.

This is the third time the Board has consulted the public via an agenda consultation to help create its five-year plan.

The Board is asking for views on the strategic direction and balance of its activities—for example, how much time it should spend on developing new IFRS Standards compared with that spent on its other activities, such as supporting consistent application of the Standards.

The Board is also seeking views on which financial reporting issues it should prioritise and on the criteria for adding projects to its work plan.

The feedback received will help the Board determine its activities and work plan for 2022 to 2026.

Some of the Board’s capacity during the period from 2022 to 2026 will be devoted to completing projects already underway and to post-implementation reviews that assess whether recently issued IFRS Standards are working as intended. However, the Board also expects to have capacity to take on some new projects.

Hans Hoogervorst, Chair of the Board, said:

The Agenda Consultation provides an important opportunity to help shape the Board’s priorities and the future of financial reporting—I encourage all those with an interest in financial reporting to share their views.

In parallel with the Board's Agenda Consultation, the Trustees of the IFRS Foundation are considering the establishment of a sustainability standards board to operate alongside the International Accounting Standards Board within the Foundation’s governance structure.

The Board is asking for stakeholder comments on the Request for Information Third Agenda Consultation by 27 September 2021.

Access the Investor Perspective article, where Board Member Zach Gast is encouraging investors to take part in the Agenda Consultation.

For further information about the Agenda Consultation, watch our three short videos by the Chair Hans Hoogervorst; Board Member Nick Anderson; and Executive Technical Director Nili Shah.

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