Insights into the IASB’s future strategy

In its February 2022 meeting, the IASB held a lengthy discussion about its agenda consultation. It has decided to increase its focus on the digital effects on financial reporting and on enhancing the understandability and accessibility of its standards. As there is no prospect of increased resources, the Board will find time for these activities by slightly reducing the time allocated to the development of new standards. This may seem a somewhat counter-intuitive decision for a standard-setter to take, but it was made in response to the feedback received.