UKEB Work Plan 17th October 2024
17 October 2024
IASB Standard-Setting Projects
| Project | Issued | Last UKEB milestone | Effective Date | Oct 2024 | Nov 2024 | Dec 2024 | Jan 2025 | Feb 2025 | March 2025 |
|---|---|---|---|---|---|---|---|---|---|
| IFRS 18 Presentation and Disclosure in Financial Statements | 09/04/24 | PIP published 03/04/24 | 01/01/27 | Board: DECA (part) | |||||
| IFRS 19 Subsidiaries without Public Accountability: Disclosures1 | 09/05/24 | 01/01/27 | Board: PIP |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
17 October 2024
IASB Maintenance Projects
| Project | Issued | Last UKEB milestone | Effective Date | Oct 2024 | Nov 2024 | Dec 2024 | Jan 2025 | Feb 2025 | March 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Amendments to the Classification and Measurement of Financial Instruments | 30/05/24 | DECA published 26/09/24 | 01/01/26 | Board: Summary of feedback received on the DECA | Board: ECA, Adoption Statement, FBS and draft DPCS | ||||
| Annual Improvements | 18/07/24 | FCL published 14/12/2023 | 01/01/26 | Board: PIP & DECA | Board: ECA, Adoption Statement, FBS, draft DPCS | Board: DPCS (noting) |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
UKEB Work Plan—Influencing Projects
17 October 2024
IASB Standard-Setting Projects
| Project | Issued | Last UKEB milestone | Status | Oct 2024 | Nov 2024 | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Equity method | ED 19/09/24 | - | IASB comment period ends 20/01/25 | Board: PIP, DCL | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) |
IASB Maintenance Projects
| Project | Issued | Last UKEB milestone | Status | Oct 2024 | Nov 2024 | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures | ED 30/07/24 | PIP published 03/07/24 | IASB comment period ends 27/11/24 | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
17 October 2024
IASB Standard-Setting Projects
| Project | Issued | Last UKEB milestone | Status | Oct 2024 | Nov 2024 | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Climate-related and Other Uncertainties in the Financial Statements | ED 31/07/24 | ED Feedback | IASB comment period ends 28/11/24 | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) | ||||
| Provisions—Targeted Improvements2 | ED expected 11/24 | Board: PIP | Board: DCL | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) |
IFRS Foundation Governance Projects
| Project | Issued | Last UKEB milestone | Status | Oct 2024 | Nov 2024 | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|
| IFRS Due Process Handbook3 | Revised handbook expected 11/24 | Board: PIP |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
UKEB Work Plan—Monitoring of IASB/ISSB projects
17 October 2024
IASB Standard-Setting Projects
| Project | Issued | Next IASB Milestone | Expected Date | Last UKEB Milestone | Notes |
|---|---|---|---|---|---|
| Dynamic Risk Management | DP 17/04/14 | ED | H1 2025 | ||
| Rate-regulated Activities | ED 28/01/21 | IFRS Standard | H2 2025 | FCL: 07/21 | |
| Financial Instruments with Characteristics of Equity | ED 29/11/23 | Final amendments | 2026 | FCL: 04/24 |
IASB Maintenance Projects
| Project | Issued | Next IASB Milestone | Expected Date | Last UKEB Milestone | Notes |
|---|---|---|---|---|---|
| Power Purchase Agreements | ED 08/05/24 | Final amendments | Q4 2024 | FCL: 08/24 |
IASB Research Projects
| Project | Issued | Next IASB Milestone | Expected Date | Last UKEB Milestone | Notes |
|---|---|---|---|---|---|
| Intangible Assets | - | Review Research | October 2024 | ||
| Post-implementation Review of IFRS 15 Revenue from Contracts with Customers | RFI 29/06/23 | Feedback Statement | September 2024 | FCL: 10/23 | |
| Amortised Cost Measurement | - | Review research | Jan 2025 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
17 October 2024
IASB Research Projects
| Project | Issued | Next IASB Milestone | Expected Date | Last UKEB Milestone | Notes |
|---|---|---|---|---|---|
| Post-implementation Review of IFRS 16 Leases | - | RFI | H1 2025 | ||
| Statement of Cash Flows and Related Matters | - | Review research | Jan 2025 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
UKEB Work Plan—Deferred projects
(As explained in the UKEB's Regulatory Strategy 2024/25)
17 October 2024
IASB Maintenance Projects
| Project | Issued | Next IASB Milestone | Expected Date | Last Milestone | Notes |
|---|---|---|---|---|---|
| Use of a Hyperinflationary Presentation Currency by a Non-hyperinflationary Entity (IAS 21) | ED 25/07/24 | ED Feedback | H1 2025 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
17 October 2024 Agenda Paper 5: Appendix A
Glossary
| Term | Description |
|---|---|
| DECA | Draft Endorsement Criteria Assessment |
| DCL | Draft Comment Letter |
| DP | Discussion Paper |
| DPCS | Due Process Compliance Statement |
| ECA | Endorsement Criteria Assessment |
| ED | Exposure Draft |
| FBS | Feedback Statement |
| FCL | Final Comment Letter |
| IASB | International Accounting Standards Board |
| PIP | Project Initiation Plan |
| RFI | Request for Information |
| TAD | Tentative Agenda Decision |
Footnotes
-
The UKEB plans to start the formal endorsement project in early 2025 to assess both IFRS 19 and the final amendments resulting from the catch-up ED as a package for adoption. ↩
-
Timing of this project is subject to publication of due process documents by the IASB according to the expected timetables ↩
-
Timing of this project is subject to publication of due process documents by the IASB according to the expected timetables ↩