12 Advisory Groups Updates

27 April 2023 Agenda Paper 12

Advisory Groups Updates

Executive Summary

Purpose of the paper

The purpose of this paper is to provide an update on meetings held by the following UKEB Advisory Groups and Working Groups, to accompany the verbal update given by their Chairs:

• Academic Advisory Group (Chair: Michael Wells)
• Accounting Firms and Institutes Advisory Group (Chair: Sandra Thompson)
• Investor Advisory Group (Chair: Paul Lee)
• Preparer Advisory Group (Chair: Giles Mullins)
• Rate-regulated Activities Technical Advisory Group (Chair: Phil Aspin)
• Financial Instruments Working Group (Chair: Peter Drummond)
• Sustainability Working Group (Chair: Seema Jamil-O'Neill)

Summary of the Issue

The four standing Advisory Groups for the UKEB were set up during 2022 and an ad-hoc Rate-regulated Activities Technical Advisory Group (RRA TAG), Chaired by Phil Aspin, held its inaugural meeting on 24 March 2023.

In addition, the Board decided to set up the following working groups to provide advice to the Secretariat: a Financial Instruments Working Group (FIWG) to advise on IASB financial instrument-related projects; and a Sustainability Working Group (SWG) to advise on the relationship between ISSB Sustainability Disclosure Standards and IASB Accounting Standards, and their connectivity.

The Advisory Groups webpage of the UKEB website sets out the purpose of each group, a list of each group's members and their biographies, and a link to its Terms of Reference. In addition, minutes for each AG meeting are uploaded as they become available.

The table below sets out the Advisory Group meetings held since their inception. Links to the meeting minutes available at the time of writing are also included in the table below.

Decisions for the Board

No decisions required

Recommendation

The Board is recommended to review the summary minutes of the groups' meetings.

Appendices

None