Summary of UKEB Private Session 19 May 2022

PRESENT:

I. Administrative Matters

Welcome and apologies for absence

1.1. Apologies were noted from Amir Amel-Zadeh. Mike Ashley left the meeting at 2:45pm. Mike Wells left the meeting at 4:30pm.

Declaration of interests

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

Minutes of the last meeting

1.3. The Board approved the minutes of the meeting held on 21 April 2022 for publication.

Action Log

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

Transparency Register for Web Publication

1.5. The Board approved the Transparency Register for publication.

Gifts & Hospitality Register

1.6. A nil return was noted.

2. 2021 Narrow-scope Amendments (Education Session)

2.1. The Board received an education session on the 2021 Narrow-scope Amendments (NSAs), effective 1 January 2023:

• Amendments to IAS 1 [and IFRS Practice Statement 2] – Disclosure of Accounting Policies,
• Amendments to IAS 8 – Definition of Accounting Estimates; and
• Amendments to IAS 12 – Deferred Tax related to Assets and Liabilities arising from a Single Transaction.

3. GDPR Awareness Refresher Session (Education Session)

3.1. The Board received a refresher education session on GDPR awareness.

4. Technical Director Updates

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

5. Advisory Groups Updates

5.1. The Board received a progress update on the set up of the Technical Advisory Groups.

6. Operational Update

6.1. The Board received an update on UKEB operational matters.

7. Any other business

7.1. No further business was discussed.

7.2. The meeting ended at 5:25pm.