"I was a peripheral visionary. I could see the future,
but only way off to the side." – Steven
Wright
Coincident with its new strategic priorities, the IASB has been
doing some forward thinking about what its agenda priorities should
be after it completes its existing projects (see "IFRS in the
Pipeline"). This has been preceded by an unprecedented level
of consultation with constituents, something that is itself a new
feature of the IASB's standard setting processes.
Reacting to concerns constituents expressed about standards
overload, the Board adopted a new attitude in developing its agenda
priorities, one best summed up by its Chair in a recent speech as
"Fix what needs fixing and no more". (As a motto, not
quite as catchy as "No wine before its time", perhaps,
but not bad.) The result is that the Board has decided to consider
adding only three standards-level projects to its agenda
– rate regulated enterprises (see our earlier
discussion); applying the equity
