IASB podcast September 2026

And so in the first category, we're talking about projects that are moving towards completion.

And so first of all, we would classify three projects in this category with the final amendments as their next major milestone.

And that would be the equity method, our provisions project, and our project on financial instruments with characteristics of equity.

Now, they're in different stages of a re-deliberation, but all of these projects are heading towards final amendments.

So I'm going to talk in this category about the equity method.

And I'm going to talk about that because it's pretty exciting that we just finished in the September meeting the final technical decisions on this project that has been going on for some time.

So let's talk about it for a bit.

So when we started this project, What we wanted to do was reduce diversity in practice by answering some application questions.

What do I mean by diversity in practice? What I mean is the way the standard was written, you could read it in different ways.

And people were reading it in different ways, which means some people were doing kind of one thing.

Some jurisdictions were doing another thing.

And so we ended up with different results from applying the same piece of the standard.

So we decided we were going to answer the questions that we had received by clarifying how people should be applying.

And then, We also wanted to improve the understandability of the standard by reordering the standard and putting it in an order that was much easier for our stakeholders to read through and understand.

And so we did that, and we published an exposure draft in September of 2024.

Now, in our meeting this September, as I said, we completed the re-deliberations needed to finalize what we want the staff to do in a revised IES 28.

And we did dealt with some sweep issues and we talked about some consequential amendments that we'd also need to make to IAS 27 and IFRS 19 to be consistent with the changes we're making to IAS 28.

We looked at the fact that we had completed our due process and the board was happy that the staff had summarized and we completed all the necessary due process steps.

And we also thought about re-exposure and we concluded that there is no need to re-expose.

And once we complete those two hurdles, Then the board can give us permission to the staff to start balloting.

And the final decision we made was that we will make the effective date the 1st of January 2029 with early application permitted.

So the next steps on this standard are the staff will start the drafting, we will have a pre-ballot and then a ballot, and we would expect the revised IAS 28 to be issued sometime in the first half of 2027.

Now, Anybody who can do the math says, Linda, it's September, and the end of the first half of 2027 is like nine months away, so it's like having a baby.

And this is our baby, but that's okay.

But do you get those kinds of questions? Like, why does it take us so long? Yeah, we do get those questions, but we have good answers.