UKEB Work Plan 27th February 2025
Endorsement Projects
| Project | Issued | Effective Date | Last UKEB milestone | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 | June 2025 | July 2025 |
|---|---|---|---|---|---|---|---|---|---|
| IASB Standard-Setting Projects | |||||||||
| IFRS 18 Presentation and Disclosure in Financial Statements | 09/04/24 | 01/01/27 | PIP published 03/04/24 | Board: Sections of DECA | Board: Sections of DECA | Board: Outstanding Issues | Board: DECA (Approval) | ||
| IFRS 19 Subsidiaries without Public Accountability: Disclosures1 | 09/05/24 | 01/01/27 | Board: PIP2 | Board: Sections of DECA |
| Project | Issued | Effective Date | Last UKEB milestone | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 | June 2025 | July 2025 |
|---|---|---|---|---|---|---|---|---|---|
| IASB Maintenance Projects | |||||||||
| Amendments to the Classification and Measurement of Financial Instruments | 30/05/24 | 01/01/26 | DECA consultation closed 10/01/25 | 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 | Adopted 11/02/25 | Board: DPCS (noting) | |||||
| Contracts Referencing Nature-dependent Electricity (Amendments to IFRS 9 and IFRS 7) | 18/12/24 | 01/01/26 | PIP published 13/12/24 | Board: DECA (Approval) | Board: Summary of feedback received on the DECA | Board: ECA, Adoption Statement, FBS and draft DPCS |
Influencing Projects
| Project | Issued | Last UKEB milestone | Status | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 | June 2025 | July 2025 |
|---|---|---|---|---|---|---|---|---|---|
| IASB Standard-Setting Projects | |||||||||
| IASB Maintenance Projects | |||||||||
| Provisions—Targeted Improvements | ED published 12/11/24 | DCL published 20/12/24 | IASB comment period ends 12/03/25 | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) | ||||
| IASB Research Projects | |||||||||
| Statement of Cash Flows and Related Matters | IASB: Review research March 25 | Board: Research Paper | Board: Research Paper |
| Project | Issued | Last UKEB milestone | Status | Feb 2025 | Mar 2025 | Apr 2025 | May 2025 | June 2025 | July 2025 |
|---|---|---|---|---|---|---|---|---|---|
| IFRS Foundation Governance Projects | |||||||||
| IFRS Foundation Due Process Handbook3 | ED 19/12/24 | IASB comment period ends 28/03/25 | Board: PIP4 | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) |
Monitoring of IASB/ISSB projects
| Project | Issued | Next Milestone | Expected Date | UKEB Status Last Milestone |
|---|---|---|---|---|
| IASB Standard-Setting Projects | ||||
| Business Combinations—Disclosures, Goodwill and Impairment | ED 14/03/24 | Decide Project Direction | 2026 | FCL: 07/2024 |
| Dynamic Risk Management | DP 17/04/14 | ED | Q2 2025 | |
| Equity Method of Accounting | ED 19/09/24 | ED feedback | April 2025 | FCL: 12/2024 |
| Financial Instruments with Characteristics of Equity | ED 29/11/23 | Final amendments | 2026 | FCL: 04/2024 |
| Rate-regulated Activities | ED 28/01/21 | IFRS Standard | H2 2025 | FCL: 07/2021 |
| IASB Maintenance Projects | ||||
| Climate-related and Other Uncertainties in the Financial Statements | ED 31/07/24 | ED feedback | February 2025 | FCL 11/2024 |
| Updating IFRS 19 Subsidiaries without Public Accountability: Disclosures | ED 30/07/24 | Final amendments | H2 2025 | FCL 11/2024 |
| IASB Research Projects | ||||
| Amortised Cost Measurement (IFRS 9) | - | Review research | February 2025 | |
| Intangible Assets | - | Review Research | February 2025 | |
| Post-implementation Review of IFRS 16 Leases | - | RFI | Q2 2025 |
Deferred projects
(As explained in the UKEB's Regulatory Strategy 2024/25)
| Project | Issued | Next Milestone | Expected Date | Last Milestone | Notes |
|---|---|---|---|---|---|
| IASB Maintenance Projects | |||||
| Translation to a Hyperinflationary Presentation Currency (IAS 21) | ED 25/07/24 | ED Feedback | April 2025 |
28 February 2025 Agenda Paper 3: Appendix A
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 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
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. The IASB expects to finalise the amendments to IFRS 19 in Q3 2025. ↩
-
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 ↩