Asb Work Programme

ASB WORK PROGRAMME

Topic Proposed Secretariat Current status Current action required 2014/15 2015/16 Board member Quart 4 Quart 1 Quart 2 Quart 3 Quart 4

ASB PROJECTS AND LOCAL INITIATIVES

Improvements B Colyvas T Tshoke Research Research IPSASB, IASB LED project 2015/16 and internal improvements

Government L Bodewig T Tshoke Research Draft Directive issued Comments Business Enterprises (Phase II)

Guideline on A Botha Research OAG agreed to update; PPPs ASB to review

Principal-agent N Ranchod J Poggiolini & Research Exposure draft issued Comments relationships GRAP T Tshoke

Natural L Bodewig A Botha Research Discussion Paper issued Comments resources LED

Post V Jack J Poggiolini implementation review of Standards of GRAP

“Think V Jack J Poggiolini Research Discussion Paper issued. Comments on paper piece” on materiality

1 31 July 2014 ASB WORK PROGRAMME

Review of R Rasikhinya J Poggiolini Research Research changes Comments GRAP 17, GRAP 16 and GRAP 1:

- Distincti on betwee n investm ent propert y and PPE

- Indicato r based approa ch for useful lives

- Disclos ure of capital work- in- progres s

- Retain or delete encour aged disclos ures

- Amend ments to GRAP 1, repairs and mainte nance

Interpretatio R Rasikhinya A Botha Research Research proposed ED IGRAP n on the accounting recognition of land

Guideline on R Rasikhinya A Botha Research Research proposed DG accounting accounting for housing arrangement s

Treatment of T Coetzer T Tshoke Research Changes agreed by Proposed transaction costs Board; publish as part of changes in relation to next improvements project GRAP 23

Review of T Coetzer A Botha Research Streamlining Directives DD transitional outlining transitional provisions in provisions. Directives 1 to 4 Monitor IPSAS first time adoption project.

GRAP Reporting A Botha Research Research FD Framework

Binding T Coetzer T Tshoke Research Monitor IPSASB LED arrangements consolidations project which now defines term.

Review of GRAP J Poggiolini & T Tshoke Research Research Comments 21 and 26 on Impairment of Assets

Insurance E Swart Research Research contracts in the public sector

Cash Flow Research Review presentation of Statements grants (separation between capital and operational & capital and operational expenditure on assets)

Strategy Full board E Swart Develop draft paper for Draft Paper discussion consultation after strategy

Framework for E Swart Research Project of the trilateral Research whole of government consolidation

IPSASB CONVERGENC E

IPSASB’s Active projects

Improvements B Colyvas T Tshoke IPSAS Improvements issued for Improve-

project 2014 ments (convergence) 2015/16

Public sector R Rasikhinya A Botha Draft Consultation Project re-activated; combinations Paper monitor.

Reporting on the V Jack J Poggiolini RPG 1 RPG 1 issued. Liaison Long Term with National Treasury on Sustainability of local application. an Entity’s Finances

Conceptual V Jack J Poggiolini FC Final chapter approved. Analysis framework Phase I

Consultation V Jack J Poggiolini IED Analysis of comments; Analysis Paper Phase II monitor.

Consultation V Jack J Poggiolini PFC Provisional approval of Analysis Paper Phase III final chapter.

Consultation V Jack J Poggiolini PFC Provisional approval of Analysis Paper Phase IV final chapter.

Reporting of CJ Kujenga J Poggiolini IED CP Draft RPG issued. Service Develop comment letter. Performance Information

Financial G Paul J Poggiolini RPG 2 Analysis of impact Statement prepared. Discuss with the Discussion and OAG Analysis

Consolidations K Kumar A Botha Exposure drafts Analysis of comments; and joint issued monitor. arrangements

First time L Bodewig A Botha Exposure draft Analysis of comments; adoption of issued. monitor. IPSASs

IPSASB’s Research project

Social benefits V Jack J Poggiolini IED Project reactivated IPSASB; monitor.

Revisions to T Coetzer J Poggiolini - Monitor – Pending IPSAS 23 (Non- completion of IPSASB exchange Conceptual Framework revenue)

Government L Bodewig T Tshoke IED COP Consultation Paper Business issued. Enterprises

Public Sector N Ranchod J Poggiolini Research Development of Specific Consultation Paper. Financial Instruments

Topic Board member Secretariat Current status Current action required 2014/15 2015/16

Quart 4 Quart 1 Quart 2 Quart 3 Quart 4

IASB CONVERGENC

Improvements B Colyvas T Tshoke Research 10/12, 11/13 and 12/14 Improve- project improvements to be ments considered in 2015/16 2015/16

Interpretations B Colyvas T Tshoke Research Monitor Improve- ments 2015/16

Consolidations R Rasikhinya A Botha IFRS Monitor IPSASB project (IFRS 10 and (EDs issued) amendments to IAS 27 and 28)

Joint R Rasikhinya A Botha IFRS Monitor IPSASB project arrangements (EDs issued) (IFRS 11 and amendments to IAS 28)

Fair value B Colyvas T Tshoke IFRS Consider in context of Analysis measurement Phase 3 of IPSASB (IFRS 13) conceptual framework.

Revisions of IAS N Ranchod J Poggiolini Revised IAS Revised IAS recently 19 (Employee issued – consider impact Benefits) on public sector

Revision of IAS L Bodewig A Botha International ED Monitor – Pending 37 finalisation of IPSASB Conceptual Framework Project

Revenue T Coetzer J Poggiolini IFRS 14 issued Monitor IPSASB Analysis

Leases G Paul T Tshoke ED Monitor IASB

Agriculture ED Monitor IASB Research (bearer

biological assets)

CL Comment Letter ICP International Consultation Paper

CP Consultation Paper IED International Exposure Draft

CED Concurrent Exposure Draft FG Final Guideline

DD Draft Directive GRAP Final Standard of GRAP

ED Draft Interpretation IAS International Accounting IGRAP Standard

DG Draft Guideline LED Local Exposure Draft

FD Final Directive PB Project Brief

IGRAP Final Interpretation PP Position Paper

RPG Recommended Practice Guideline

8 31 July 2014