Annual Reports

The UK Endorsement Board has produced three Annual Reports for the period 2021/ 2022:

Report on the carrying out of functions designated under The International Accounting Standards (Delegation of Functions) (EU Exit) Regulations 2021

A report to the Secretary of State setting out how we discharged our delegated functions, including the adoption of our first major standard (IFRS 17 Insurance Contracts) and six narrow scope amendments and influencing the development of international accounting standards.

Governance & Due Process Annual Report

A report to the FRC setting out how we fulfilled our governance and due process responsibilities in terms of the design, implementation and embedding of a robust governance and due process framework.

The UKEB Chair, Pauline Wallace, said:

“The UKEB’s first year of operation was a busy and successful one as reflected in our 2021/22 Annual Reports to BEIS and the FRC. Much was achieved in terms of both organisational set-up and progressing the technical agenda, giving us a sound basis for our future technical activities.

None of these achievements would have been possible without the hard work of the Board and Secretariat and support from stakeholders.”

Annual Board Effectiveness Review

A review commissioned by the Board with a focus on the four core areas of Board governance and accountability, culture and composition, Secretariat support and leadership. It reflects upon the Board’s strengths and capabilities and considers areas for further development as part of UKEB’s focus on continuous improvement.

The UKEB Chair, Pauline Wallace, said:

“This first Board Effectiveness Review has allowed the Board the opportunity to reflect and obtain feedback on our performance over this past year, what we achieved and how we achieved it. The positive findings are very encouraging and we are committed to ensuring that areas requiring further development will be addressed. I look forward to working with the Board to ensure that we continue to build on the strong foundations we set in our first year.

My thanks to Board Members, the Secretariat and Official Observers for their participation and invaluable feedback.”