This follows strong feedback from stakeholders that said the International Accounting Standards Board (IASB) need to focus on completing ongoing projects before launching any new workstreams.

The IASB said it would ‘first focus on work already under way, as well as any time-sensitive work. This means that the IASB may not make substantial progress on new projects immediately.  

However, the IASB will launch projects to make improvements to reporting on intangibles, cash flow and climate related disclosures, although these will not kick off until 2024 at the earliest.