Summary of UKEB 6th Private Session 17 September 2021
UK ENDORSEMENT BOARD 17 SEPTEMBER 2021
PRESENT:
| Name | Designation |
|---|---|
| Pauline Wallace | Chair |
| Amir Amel-Zadeh | Member |
| Mike Ashley | Member |
| Phil Aspin | Member |
| Katherine Coates | Member (from item 3) |
| Paul Lee | Member (until item 4) |
| Giles Mullins | Member |
| Liz Murrall | Member |
| Sandra Thompson | Member |
| Michael Wells | Member |
1. Administrative Matters
Welcome and apologies for absence
1.1Apologies were received from Kathryn Cearns.
Declaration of interests
1.2There were no declarations for conflict of interest in relation to the matters discussed in the meeting.
Minutes of the last meeting
1.3The Board approved the minutes of the meeting held on 20 July 2021 for publication.
Action Log
1.4The Board noted the log of actions arising from previous meetings.
2. Regulatory Strategy and Budget
2.1The Board reviewed and approved the UKEB's draft regulatory strategy for 2021/22, and reviewed a preliminary budget for 2022/23 and a forward workplan for 2022/25.
3. Session with Nick Anderson, Member of the International Accounting Standards Board (IASB)
3.1The Board met with Nick Anderson, a full-time Board member of the IASB. Mr Anderson was asked about the IASB's current priorities, the potential challenges for and developments at the IASB over the coming years and the ways in which the UKEB could continue to strengthen its influencing role.
3.2The Chair thanked Mr Anderson for attending and welcomed continuing dialogue with the IASB and the building of academic research links between the two organisations.
4. Technical Updates
4.1The Board noted the Work Plan, its Forward Agenda for future meetings, the list of recent publications, and the Register of meetings with external stakeholders. The Board noted that the Work Plan and the Register of meetings would be published on UKEB website. The Board also received an update on recent domestic and international technical developments.
4.2The Board also reviewed a table of the International Financial Reporting Interpretations Committee's (IFRIC) agenda decisions since January 2020.
4.3The Board noted a list of meeting dates for 2022.
5. Endorsement criteria
5.1The Board reviewed a paper setting out the Secretariat's approach to its consideration of the statutory endorsement criteria for adoption of international accounting standards for use in the UK.
6. Operational update
6.1The Board received a paper on developments in operational matters.
7. Any other business
7.1No further business was discussed.
7.2The meeting ended at 5.25pm.