UKEB Work Plan 18th December 2020
18 December 2020
UKEB Work plan—adoption projects
Major—endorsement and adoption project
| Project | Issued | Last milestone achieved | Status / Effective Date | Jan 2021 | Feb 2021 | Mar 2021 | Apr 2021 | May 2021 | Jun 2021 |
|---|---|---|---|---|---|---|---|---|---|
| IFRS 17 Insurance Contracts Amendments to IFRS 17 | 05/2017 25/06/2020 |
01/01/2023 | • 26/01 TAG meeting • Informal outreach |
• 23/02 TAG meeting • Outreach |
• 16/03 TAG meeting • Outreach • Drafting DECA • Drafting IA |
• 27/04 TAG meeting • Outreach • Drafting DECA • Drafting IA |
• 25/05 TAG meeting • Outreach • Drafting DECA • Drafting IA |
• Drafting DECA • Drafting IA |
Narrow-scope amendments—endorsement and adoption projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Jan 2021 | Feb 2021 | Mar 2021 | Apr 2021 | May 2021 | Jun 2021 |
|---|---|---|---|---|---|---|---|---|---|
| Annual Improvements to IFRS 2018–2020 | 14/05/20 | 01/01/2022 | |||||||
| Onerous Contracts—Cost of Fulfilling a Contract (Amendments to IAS 37) | 14/05/20 | 01/01/2022 | |||||||
| Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) | 14/05/20 | 01/01/2022 | |||||||
| Reference to the Conceptual Framework (Amendments to IFRS 3) | 14/05/20 | 01/01/2022 | |||||||
| Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) Deferral of Effective Date Amendment |
23/01/20 15/07/20 |
01/01/2023 | |||||||
| Accounting Policies and Accounting Estimates (Amendments to IAS 8) | Expected 02/2021 |
Expected 01/01/2023 |
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| Disclosure Initiative—Accounting Policies (Amendments to IAS 1) | Amendment expected 02/2021 |
Expected 01/01/2023 |
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| Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) | Amendment expected Q2/2021 |
Expected 01/01/2023 |
UKEB Work plan—influencing projects
Major—influencing projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Jan 2021 | Feb 2021 | Mar 2021 | Apr 2021 | May 2021 | Jun 2021 |
|---|---|---|---|---|---|---|---|---|---|
| DP Business Combinations—Disclosures, Goodwill and Impairment) (UKEB approach: full scope) | 19/03/2020 | Joint UKEB-IASB outreach event 26/11/20 |
Comment period ends 31/12/20 |
• Finalise comment letter and submit to IASB |
• Develop Feedback Statement |
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| DP Business Combinations under Common Control (UKEB approach: narrow scope) | 30/11/2020 | Comment period ends 01/09/2021 |
• Develop educational webinar |
• Outreach webinars |
• Develop survey | • Publish survey • Roundtable outreach events |
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| RfI Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12 | 09/12/2020 | Comment period ends 10/05/2021 |
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| ED Rate-regulated Activities | Expected 01/2021 |
Comment deadline expected 30/06/2021 |
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| RfI IASB Agenda Consultation | Expected 03/2021 |
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| ED Disclosure Initiative—Targeted Standards-level Review of Disclosures (IFRS 13 & IAS 19) | Expected 03/2021 |
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| Dynamic Risk Management | Core model feedback expected Q2/2021 |
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| RfI Post-implementation Review of IFRS 9— | Expected H2/2021 |
Narrow-scope amendments—influencing projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Jan 2021 | Feb 2021 | Mar 2021 | Apr 2021 | May 2021 | Jun 2021 |
|---|---|---|---|---|---|---|---|---|---|
| Classification and Measurement | |||||||||
| Disclosure Initiative—Subsidiaries that are SMEs | DP/ED decision expected 01/2021 |
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| ED Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16) | 27/11/2020 | Comment period ends 29/03/2021 |
• Draft comment letter |
• Finalise comment letter |
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| ED Lack of Exchangeability (Amendments to IAS 21) | Expected Q1/2021 |
UKEB Work plan—other IASB projects
Comments from IASB work plan 18 December 2020
| Project | H1 2021 Projects | H2 2021 Projects or timing not specified |
|---|---|---|
| Narrow-scope amendments | ||
| Availability of a Refund (Amendments to IFRIC 14) | Decide project direction expected | |
| Provisions—Targeted Improvements | Decide project direction expected | |
| Research projects | ||
| Equity Method | Decide project direction expected | |
| Extractive Industries | Decide project direction Q2/2021 | |
| Financial Instruments with Characteristics of Equity | Review research February 2021 | Exposure Draft expected |
| Other projects | ||
| Pension Benefits that Depend on Asset Returns | ED expected Q2/2021 | |
| Management Commentary |
UKEB Work plan—completed projects awaiting adoption
| Project | Status | (empty)
(empty)
(empty)
(empty)
(empty)
(empty)
(empty)
(empty)
(empty)
(empty)
(empty)
(empty)
(empty)
(empty)
(empty) |
UKEB Work plan—completed influencing projects
| Project | Status | Last milestone achieved |
|---|---|---|
| ED General Presentation and Disclosures issued on 17 December 2019 Comment period ended 30 September 2020 |
Monitoring IASB re-deliberations | Submitted comment letter 30 September 2020 |