Summary of UKEB Private Session 18 July 2022

PRESENT:

I. Administrative Matters

Welcome and apologies for absence

1.1 Apologies were noted from Mike Ashley. Sandra Thompson left the meeting at 4:15pm.

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 23 June 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, subject to the inclusion of additional declarations received.

Gifts & Hospitality Register

1.6 The Board approved the Gifts & Hospitality Register for publication, subject to the inclusion of additional declarations received.

2. Risk Register

2.1 The Board considered the updated Risk Register, which was amended following Board feedback.

3. Operational Update

3.1 The Board received an update on operational matters.

4. Education Session – IFRS 9 Financial Instruments: Expected Credit Losses

4.1 The Board received an education session (first of two parts) on IFRS 9 Financial Instruments: Expected Credit Losses. The second part will be delivered to the Board at its next meeting in September 2022.

5. Technical Director's Updates

5.1 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.

Advisory Groups Update & Ratification of Appointments

5.2 The Board received a progress update on the set up of the standing Advisory Groups.

6. Any other business

6.1 No further business was discussed.

6.2 The meeting ended at 18:10.