UKEB Work Plan 18th February 2021

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18 February 2021

UKEB Work plan—adoption projects

Major—endorsement and adoption project

Project	Issued	Last milestone achieved	Status / Effective Date	Feb 2021	Mar 2021	Apr 2021	May 2021	Jun 2021	Jul 2021
IFRS 17 Insurance Contracts Amendments to IFRS 17	05/2017 25/06/2020		01/01/2023	- 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	- 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) Deferral of Effective Date Amendment	23/01/20 15/07/20	01/01/2023
Accounting Policies and Accounting Estimates (Amendments to IAS 8)	12/02/21	01/01/2023
Disclosure Initiative—Accounting Policies (Amendments to IAS 1)	12/02/21	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

UKEB Work plan—influencing projects

Major—influencing projects

Project	Issued	Status / Effective Date	Feb 2021	Mar 2021	Apr 2021	May 2021	Jun 2021
DP Business Combinations under Common Control (UKEB approach: narrow scope)	30/11/2020	Comment period ends 01/09/2021	- Record educational webinar	- Develop and publish survey	- Develop draft comment letter	- Publish draft comment letter	- Discussion at Board - Finalise and submit comment letter
RfI Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12	09/12/2020	Comment period ends 10/05/2021	- Outreach	- Develop and publish draft comment letter	- Discussion at Board - Finalise and submit comment letter
ED Rate-regulated Activities	28/01/21	Comment period ends 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 04/2021
RfI Post-implementation Review of IFRS 9—Classification and Measurement	Expected H2/2021

Narrow-scope amendments—influencing projects

Project	Issued	Status / Effective Date	Feb 2021	Mar 2021
Disclosure Initiative—Subsidiaries that are SMEs	ED expected H2/2021
ED Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16)	11/02/21	Comment period ends 25/02/2021	- Finalise and submit comment letter
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 and submit comment letter
ED Lack of Exchangeability (Amendments to IAS 21)	Expected 04/2021

UKEB Work plan—other IASB projects

Comments from IASB work plan 17 February 2021

Project	H1 2021 Projects	H2 2021 Projects or timing not specified
Standard-setting projects		Exposure Draft expected
Financial Instruments with Characteristics of Equity
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
Pension Benefits that Depend on Asset Returns	Review research February 2021
Other projects
Management Commentary	ED expected April 2021

UKEB Work plan—completed influencing projects

Project	Status	Last milestone achieved
DP Business Combinations—Disclosures, Goodwill and Impairment) issued on 19 March 2020 Comment period ended 31 December 2020	Monitoring IASB re-deliberations	Submitted comment letter 29 January 2021
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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