The IASB has released an updated work plan, dated 20 December 2011, incorporating the impacts of recently issued pronouncements and outlining revised ‘current best estimates’ for its various projects. A number of projects has been deferred, the expected timing of other projects more precisely defined, and deadlines for finalisation of IFRSs on leases and revenue recognition projects now not explicitly stated within the timeframes outlined (so now not expected before the end of 2012).