Summary of UKEB Private Session 17 February 2022

PRESENT:

1. Administrative Matters

1.1 The Board held its Private Session in two halves, with the first part at 9:30am-10:30am and the second at 3:50pm-5:45pm.

Welcome and apologies for absence

1.2 Apologies were received from Kathryn Cearns.

Declaration of interests

1.3 No members declared conflicts of interest in relation to any of the matters discussed in the meeting.

Minutes of the last meeting

1.4 The Board approved the minutes of the meeting held on 20 January 2022 for publication.

Action Log

1.5 The Board noted the log of actions arising from previous meetings.

2. Counsel Opinion

2.1 During the first half of the Private Session, the Board members considered their views on a draft opinion from Legal Counsel.

2.2 The Board closed the first half of the Private Session at 10:30am to commence the Public Session at 10:45am.

3. Technical Advisory Groups: Planned Approach

3.1 The Board reconvened its Private Session at 3:50pm. It agreed plans for the establishment of four standing Technical Advisory Groups.

1. Accounting Firms & Institutes Advisory Group
2. Investor Advisory Group
3. Academic Advisory Group
4. Preparer Advisory Group

4. Technical Updates

4.1 The Board approved the UKEB's work plan for publication on the UKEB website. The Board received a number of other technical updates related to the work plan.

5. Operational Update

5.1 The Board received an update on UKEB operational matters.

Transparency Register for Web Publication

5.2 The Board approved the Transparency Register for publication.

Gifts & Hospitality Register

5.3 A nil return was noted.

6. Any other business

6.1 No further business was discussed.

6.2 The meeting ended at 5:45pm.