UKEB Work Plan 12th December 2024
12 December 2024
UKEB Work Plan—Endorsement Projects
| Project | Issued | Effective Date | Last UKEB milestone | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|
| IFRS 18 Presentation and Disclosure in Financial Statements | 09/04/24 | 01/01/27 | PIP published 03/04/24 | Board: Survey results | Board: DECA (technical topics) | Board: DECA (technical topics) | Board: DECA (economic assessment) | ||
| IFRS 19 Subsidiaries without Public Accountability: Disclosures1 | 09/05/24 | 01/01/27 | Board: PIP2 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
IASB Maintenance Projects
| Project | Issued | Effective Date | Last UKEB milestone | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Amendments to the Classification and Measurement of Financial Instruments | 30/05/24 | 01/01/26 | DECA published 26/09/24 | Board: Summary of feedback received on the DECA | Board: ECA, Adoption Statement, FBS and draft DPCS | Board: DPCS (noting) | |||
| Annual Improvements to IFRS Accounting Standards—Volume 11 | 18/07/24 | 01/01/26 | DECA published 18/10/24 | Board: ECA, Adoption Statement, FBS, draft DPCS | Board: DPCS (noting) | ||||
| Power Purchase Agreements | Expected 12/24 | FCL 06/08/24 | Board: PIP | Board: technical paper | Board: DECA |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
UKEB Work Plan—Influencing Projects
IASB Standard-Setting Projects
| Project | Issued | Last UKEB milestone | Status | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Equity method | ED 19/09/24 | DCL published 21/10/24 | IASB comment period ends 20/01/25 | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) |
IASB Maintenance Projects
| Project | Issued | Last UKEB milestone | Status | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Climate-related and Other Uncertainties in the Financial Statements | ED 31/07/24 | FCL published 28/11/24 | ED Feedback expected Q1 2025 | Board: DPCS (noting) | |||||
| Provisions—Targeted Improvements | ED published 12/11/24 | PIP published 21/10/24 | IASB comment period ends 12/03/25 | Board: DCL | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
IASB Research Projects
| Project | Issued | Last UKEB milestone | Status | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Updating IFRS 19 Subsidiaries without Public Accountability: Disclosures | ED 30/07/24 | FCL published 28/11/24 | ED Feedback expected January 2025 | Board: DPCS (noting) | |||||
| Statement of Cash Flows and Related Matters | Review research Feb 2025 | Board: Paper | Board: Paper |
IFRS Foundation Governance Projects
| Project | Issued | Last UKEB milestone | Status | Dec 2024 | Jan 2025 | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 |
|---|---|---|---|---|---|---|---|---|---|
| IFRS Due Process Handbook3 | ED of revised Handbook expected end 2024 | Board: PIP4 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
UKEB Work Plan—Monitoring of IASB/ISSB projects
IASB Standard-Setting Projects
| Project | Issued | Next Milestone | Expected Date | Last Milestone |
|---|---|---|---|---|
| Business Combinations—Disclosures, Goodwill and Impairment | DP 14/03/24 | ED feedback | December 2024 | FCL: 07/24 |
| Dynamic Risk Management | DP 17/04/14 | ED | H1 2025 | |
| Financial Instruments with Characteristics of Equity | ED 29/11/23 | Final amendments | 2026 | FCL: 04/24 |
| Rate-regulated Activities | ED 28/01/21 | IFRS Standard | H2 2025 | FCL: 07/21 |
IASB Maintenance Projects
| Project | Issued | Next Milestone | Expected Date | Last Milestone |
|---|---|---|---|---|
IASB Research Projects
| Project | Issued | Next Milestone | Expected Date | Last Milestone |
|---|---|---|---|---|
| Amortised Cost Measurement (IFRS 9) | - | Review research | February 2025 | |
| Intangible Assets | - | Review Research | February 2025 | |
| Post-implementation Review of IFRS 16 Leases | - | RFI | H1 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)
IASB Maintenance Projects
| Project | Issued | Next Milestone | Expected Date | Last Milestone | Notes |
|---|---|---|---|---|---|
| Translation to a Hyperinflationary Presentation Currency (IAS 21) | ED 25/07/24 | ED Feedback | Q2 2025 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
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. ↩
-
Additional details on the project plan to be updated here once the Board approves the proposed plan in the PIP ↩
-
Timing of this project is subject to publication of due process documents by the IASB according to the expected timetables ↩
-
Additional details on the project plan to be updated here once the Board approves the proposed plan in the PIP ↩