UKEB Work Plan 11th March 2021
UKEB Work plan—adoption projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Mar 2021 | Apr 2021 | May 2021 | Jun 2021 | Jul 2021 | Aug 2021 |
|---|---|---|---|---|---|---|---|---|---|
| Major—endorsement and adoption project | |||||||||
| IFRS 17 Insurance Contracts Amendments to IFRS 17 | 05/2017 25/06/2020 |
01/01/2023 | • 16/03 TAG meeting • Outreach • Planning IA |
• 27/04 TAG meeting • Outreach • Planning IA |
• 25/05 TAG meeting • Outreach • Drafting DECA |
• Outreach • Drafting DECA • Drafting IA |
• 08/07 TAG meeting • Drafting DECA • Drafting IA |
• Drafting DECA • Drafting IA |
|
| Narrow-scope amendments—endorsement and adoption projects | |||||||||
| 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) | 12/02/21 | 01/01/2023 | |||||||
| Disclosure Initiative—Accounting Policies (Amendments to IAS 1) | 12/02/21 | 01/01/2023 | |||||||
| Covid-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16) | Amendment expected 31/03/21 | Expected 01/04/2021 | • | ||||||
| Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) | Amendment expected May 2021 | Expected 01/01/2023 |
UKEB Work plan—influencing projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Mar 2021 | Apr 2021 | May 2021 | Jun 2021 | Jul 2021 | Aug 2021 |
|---|---|---|---|---|---|---|---|---|---|
| Major—influencing projects | |||||||||
| 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 | • Discussion at Board • Develop draft comment letter |
• Publish draft 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 |
• Develop and finalise Feedback Statement | ||||
| ED Rate-regulated Activities | 28/01/21 | Comment period ends 30/06/2021 | |||||||
| RfI IASB Third Agenda Consultation | Expected 03/2021 | • Outreach informal roundtables • Develop and publish draft comment letter |
• Outreach Formal panel event with IASB • Informal outreach |
• Discussion at Board • Informal outreach |
• Discussion at Board • Finalise and submit comment letter |
• Develop and finalise Feedback Statement | |||
| 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 | Expected H2/2021 | ||||||||
| Narrow-scope amendments—influencing projects | |||||||||
| ED Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16) | 27/11/2020 | Comment period ends 29/03/2021 | • 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 11 March 2021
| Project | H1 2021 Projects | H2 2021 Projects or timing not specified |
|---|---|---|
| Standard-setting projects | ||
| Financial Instruments with Characteristics of Equity | Exposure Draft expected | |
| Primary Financial Statements (based on ED General Presentation and Disclosures) | Final Standard expected | |
| 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 May 2021 | |
| Goodwill and Impairment (based on DP Business Combinations—Disclosures, Goodwill and Impairment) | DP feedback expected March 2021 | |
| Pension Benefits that Depend on Asset Returns | Review research April 2021 | |
| Other projects | ||
| Management Commentary | ED expected April 2021 |
UKEB Work plan—completed influencing projects
| Project | Status | Last milestone achieved |
|---|---|---|
| ED Covid-19-Related Rent Concessions beyond 30 June 2021 (Proposed amendment to IFRS 16) issued on 11 February 2021 Comment period ended 25 February 2021 |
On 10 March 2021 the IASB agreed finalise the proposal and expect to issue the Amendment on 31 March 2021 | Submitted comment letter 25 February 2021 |
| 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 |