Following its recent meeting, the International Accounting Standards Board (IASB) has updated its work plan. The work plan formalises plans for finalised requirements as being expected in the first or second quarter of 2014 in relation to the impairment of financial instruments and the limited reconsideration of IFRS 9 (classification and measurement). Deferrals have been announced in the finalisation of the IFRS on revenue recognition, a discussion paper on rate regulation, and exposure drafts for a number of narrow scope projects. A number of other changes are also made.