He noted that most of the convergence work with the US Financial Accounting Standards Board is largely behind us, so the IASB has a "relatively clean slate". One of the most common items from the feedback received was a request for a period of stability. Mr Hoogervorst noted that the IASB's future work programme will focus on fixing only what needs to be fixed, including (1) completing revisions to the conceptual framework, (2) ensuring disclosure requirements are appropriate, (3) deciding what to do with other comprehensive income and (4) considering work on less ambitious projects, such as agriculture, business combinations under common control, hyperinflation and rate-regulated industries.

For the full text of the speech we refer to the website of the IASB:

http://www.ifrs.org/Alerts/PressRelease/HansMexicoMarch2012.htm