UKEB Work Plan 6th January 2021

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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	Status / Effective Date
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)	23/01/20	01/01/2023
Deferral of Effective Date Amendment	15/07/20
Accounting Policies and Accounting Estimates (Amendments to IAS 8)	02/2021	Expected 01/01/2023
Disclosure Initiative—Accounting Policies (Amendments to IAS 1)	Amendment expected 02/2021	Expected 01/01/2023
Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12)	Amendment expected Q2/2021	Expected 01/01/2023

Influencing Projects

Major—influencing projects

Project	Issued	Last milestone achieved	Status / Effective Date	Jan 2021	Feb 2021	Mar 2021	Apr 2021	May 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
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
RfI Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12	09/12/2020		Comment period ends 10/05/2021
ED Rate-regulated Activities	Expected 01/2021		Comment deadline expected 30/06/2021
RfI IASB Agenda Consultation	Expected 03/2021
ED Disclosure Initiative—Targeted Standards-level Review of Disclosures (IFRS 13 & IAS 19)	Expected 03/2021
Dynamic Risk Management			Core model feedback expected Q2/2021
RfI Post-implementation Review of IFRS 9—	Expected H2/2021

Narrow-scope amendments—influencing projects

Project	Issued	Status / Effective Date	Jan 2021	Feb 2021
Classification and Measurement
Disclosure Initiative—Subsidiaries that are SMEs	DP/ED decision expected 01/2021
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
ED Lack of Exchangeability (Amendments to IAS 21)	Expected Q1/2021

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		Exposure Draft expected
Pension Benefits that Depend on Asset Returns	Review research February 2021
Other projects
Management Commentary	ED expected Q2/2021

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

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