| Title of the Standard |
Issue dates |
| The International Accounting Standards Board (IASB) published IFRS 18 |
|
| Presentation and Disclosure in Financial Statements. |
- IFRS 18 Presentation and Disclosure in Financial Statements was issued on 9 April 2024. |
|
- IFRS 18 has an effective date of 1 January 2027. Earlier application is permitted. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18². |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments This document outlines compliance information for the due process procedure followed for IFRS 18 Presentation and Disclosure in Financial Statements.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18². |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments The document is about IFRS 18 Presentation and Disclosure in Financial Statements and the compliance with UKEB's due process. It focuses on the stages of project preparation, education, research, outreach, endorsement criteria assessment, finalisation, and ongoing communications.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments This document outlines Due Process Compliance for IFRS 18 Presentation and Disclosure in Financial Statements.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments This document describes the process followed to ensure compliance with the UKEB's due process for IFRS 18 Presentation and Disclosure in Financial Statements.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments The document describes the process followed to ensure compliance with the UKEB's due process for IFRS 18 Presentation and Disclosure in Financial Statements.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments The document describes the process followed to ensure compliance with the UKEB's due process for IFRS 18 Presentation and Disclosure in Financial Statements.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments ## Due Process Compliance Statement {: #due-process-compliance-statement }
| Mandatory / Optional ¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
DPCS approved by the UKEB in public meeting |
Complete: A [draft] DPCS was presented for approval to the Board at its 20 November 2025 public meeting. A final DPCS was presented for noting at the Board's 29 January 2026 meeting. |
| Mandatory |
DPCS published on the website |
Complete: The final DPCS was published on the UKEB website after the 29 January 2026 Board meeting. |
| Mandatory / Optional ¹ | Metrics or Evidence | UKEB Secretariat Comments ## Due Process Compliance Statement {: #due-process-compliance-statement }
| Mandatory / Optional ¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
DPCS approved by the UKEB in public meeting |
Complete: A [draft] DPCS was presented for approval to the Board at its 20 November 2025 public meeting. A final DPCS was presented for noting at the Board's 29 January 2026 meeting. |
| Mandatory |
DPCS published on the website |
Complete: The final DPCS was published on the UKEB website after the 29 January 2026 Board meeting. |
| Mandatory / Optional ¹ | Metrics or Evidence | UKEB Secretariat Comments ## Due Process Compliance Statement {: #due-process-compliance-statement }
| Mandatory / Optional ¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
DPCS approved by the UKEB in public meeting |
Complete: A [draft] DPCS was presented for approval to the Board at its 20 November 2025 public meeting. A final DPCS was presented for noting at the Board's 29 January 2026 meeting. |
| Mandatory |
DPCS published on the website |
Complete: The final DPCS was published on the UKEB website after the 29 January 2026 Board meeting. |
| Mandatory / Optional ¹ | Metrics or Evidence | UKEB Secretariat Comments The document describes the process followed to ensure compliance with the UKEB's due process for IFRS 18 Presentation and Disclosure in Financial Statements.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments ## Due Process Compliance Statement {: #due-process-compliance-statement }
| Mandatory / Optional ¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
DPCS approved by the UKEB in public meeting |
Complete: A [draft] DPCS was presented for approval to the Board at its 20 November 2025 public meeting. A final DPCS was presented for noting at the Board's 29 January 2026 meeting. |
| Mandatory |
DPCS published on the website |
Complete: The final DPCS was published on the UKEB website after the 29 January 2026 Board meeting. |
| Mandatory / Optional ¹ | Metrics or Evidence | UKEB Secretariat Comments ## Description
This document outlines the UKEB's due process compliance statement for IFRS 18 Presentation and Disclosure in Financial Statements. It details the steps taken to ensure that the development and endorsement of IFRS 18 align with the UKEB's established procedures, as outlined in their Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments The document describes the process followed to ensure compliance with the UKEB's due process for IFRS 18 Presentation and Disclosure in Financial Statements.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments ## The due process compliance statement regarding IFRS 18 Presentation and Disclosure in Financial Statements
This document describes the process followed to ensure compliance with the UKEB's due process for IFRS 18 Presentation and Disclosure in Financial Statements.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments ## Description
This document describes the UKEB's due process compliance statement for IFRS 18 Presentation and Disclosure in Financial Statements. It details the steps taken to ensure that the development and endorsement of IFRS 18 align with the UKEB's established procedures, as outlined in their Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments ## The due process compliance statement regarding IFRS 18 Presentation and Disclosure in Financial Statements
This document describes the process followed to ensure compliance with the UKEB's due process for IFRS 18 Presentation and Disclosure in Financial Statements.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Project is included in the UKEB published technical work plan. |
Complete: The UKEB workplan dated 23 February 2024 indicated that the PIP for the project to endorse IFRS 18 Presentation and Disclosure in Financial Statements was proposed for February 2024. IFRS 18 as an endorsement project was included in the UKEB technical work plan published dated 28 March 2024. |
| Mandatory |
PIP draft with project outline (background, scope, project objective) and approach for endorsement (key milestones and timing) |
Complete: The Secretariat included mandatory milestones for the project and considered, as appropriate, other milestones and activities. The PIP approved was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
In accordance with the Due Process Handbook.
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Mandatory |
Outreach plan for stakeholders and communication approach outlined |
Complete: The PIP included the outreach plan and approach (refer for example to paragraphs 14–15). |
| Mandatory |
Resources allocated |
Complete: The PIP explained in paragraphs 62–63 that one Project Director, one Project Manager and an economist, on a part-time basis were allocated to the project; that an additional project manager had been allocated to the project and expected to be available part-time from Q2–Q3 2024. The PIP also included the plan to hire a fixed-term contract researcher with background in economics for the duration of six months to assist with this (and other) projects. |
| Mandatory |
Assessment of whether to set up an ad-hoc advisory group |
Complete: Assessed. Taking a proportionate approach, an ad hoc advisory group was considered unnecessary (refer to paragraph 64 of the PIP). |
| Mandatory |
Assessment of whether PIP required updating |
Complete: Assessed. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. The updated PIP addressed the comments made by the Board at its 23 February 2024 meeting and included a revised timeline for the adoption of IFRS 18[^2]. |
| Mandatory |
UKEB Board public meeting held to approve PIP |
Complete: The PIP was approved at the 23 February 2024 Board meeting subject to further revisions. An updated PIP was presented for noting at the 28 March 2024 Board meeting and published on the UKEB webpage on 3 April 2024. |
The main changes made to the PIP are explained in agenda paper 13A (28 March 2024).
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Board provided with Education sessions |
Complete: The Board was provided with an education session with the participation of IASB staff on 18 July 2024. To facilitate this discussion, the Board were provided technical papers with an overview of the main requirements in IFRS 18. The Board also had an opportunity to ask questions to the IASB staff. This was a private session. |
| Mandatory / Optional¹ |
Metrics or Evidence |
UKEB Secretariat Comments |
| Optional |
Review of relevant documentation |
Complete: the Secretariat has reviewed relevant documentation, including: - The IASB’s work on IFRS 18 (including staff papers, the final Standard and supporting materials). - The Basis for Conclusions to the Standard. - Comment letters on the ED received by the IASB from UK stakeholders including from the UKEB Secretariat. - Publications on IFRS 18, regulatory publications including FRC thematics on subjects related to IFRS 18. - Other standard-setters’ views. - In-house research on long term public good. - Accounting manuals with guidance and illustrative examples. - The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission. |
| Mandatory / Optional¹ | Metrics or Evidence | UKEB Secretariat Comments