The International Accounting Standards Board (IASB) has deferred the timing for the post-implementation review of IFRS 3.
In an update of its work plan, the standard-setter said the post-implementation review of IFRS 3, Business Combinations, will be initiated after the third quarter of 2012 and not in the expected second quarter.
The update also outlined other projects it expects to implement by the end of June 2012.
- Finalised pronouncements from the annual improvements project and the proposed amendments to the transitional requirements in IFRS 10 Consolidated Financial Statements,
- Review draft of the general hedge accounting chapter of IFRS 9 Financial Instruments,
- Exposure draft arising from the annual improvements project
- Feedback statement from the IASB’s agenda consultation 2011, and
- Request for views arising from the post-implementation review of IFRS 8 Operating Segments.