UKEB Work Plan 18th May 2021
18 May 2021
UKEB Work plan – adoption projects
Major—endorsement and adoption project
| Project | Issued | Last milestone achieved | Status / Effective Date | May 2021 | Jun 2021 | Jul 2021 | Aug 2021 | Sep 2021 | Oct 2021 |
|---|---|---|---|---|---|---|---|---|---|
| IFRS 17 Insurance Contracts Amendments to IFRS 17 | 05/2017 25/06/2020 | 01/01/2023 | - 25/05 TAG meeting - Outreach - Board: Approve project plan - Board: Education session |
- Outreach - Drafting DECA |
- 08/07 TAG meeting - Outreach - Drafting DECA - Board: Technical paper |
- Drafting DECA | - Board: Technical paper | - Updating DECA |
Narrow-scope amendments—endorsement and adoption projects
| Project | Issued | Last milestone achieved | Status / Effective Date | May 2021 | Jun 2021 | Jul 2021 | Aug 2021 | Sep 2021 | Oct 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) | 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) | 31/03/21 | 01/04/2021 | |||||||
| Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) | 07/05/21 | 01/01/2023 |
11 May 2021
UKEB Work plan—influencing projects
Major—influencing projects
| Project | Issued | Last milestone achieved | Status / Effective Date | May 2021 | Jun 2021 | Jul 2021 | Aug 2021 | Sep 2021 | Oct 2021 |
|---|---|---|---|---|---|---|---|---|---|
| DP Business Combinations under Common Control (UKEB approach: limited scope) | 30/11/2020 | Comment period ends 01/09/2021 | - Board: Approve draft comment letter (DCL) - Publish DCL |
- Board: Approve final comment letter (FCL) - Submit FCL to IASB and publish |
- Board: Review Feedback statement (FBS) - Publish FBS |
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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 | - Board: Approve final comment letter (FCL) - Submit FCL to IASB and publish |
- Board: Review Feedback statement (FBS) - Publish FBS |
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| ED Rate-regulated Activities | 28/01/2021 | Comment period ends 30/07/2021 | - Board: Approve project plan - Outreach |
- Outreach | - Board: Approve DCL - Outreach - Board: Approve FCL |
- Board: Review FBS - Publish FBS |
- Board: Review FBS | ||
| RfI IASB Third Agenda Consultation | 30/03/2021 | Comment period ends 27/09/2021 | - Board: Approve project plan | - Roundtables | - Board: Approve DCL - Joint outreach event with IASB |
- Board: Approve FCL - Submit FCL to IASB and publish |
- Board: Review FBS - Publish FBS |
Narrow-scope amendments—influencing projects
| Project | Issued | Last milestone achieved | Status / Effective Date | May 2021 | Jun 2021 | Jul 2021 | Aug 2021 | Sep 2021 | Oct 2021 |
|---|---|---|---|---|---|---|---|---|---|
| ED Disclosure Initiative—Targeted Standards-level Review of Disclosures (IFRS 13 & IAS 19) | 25/03/2021 | Comment period ends 21/10/2021 | |||||||
| Dynamic Risk Management | Decide project direction | ||||||||
| RfI Post-implementation Review of IFRS 9—Classification and Measurement | Expected Q3/2021 | ||||||||
| Disclosure Initiative—Subsidiaries that are SMEs | ED expected July 2021 | ||||||||
| ED Lack of Exchangeability (Amendments to IAS 21) | 20/04/2021 | Comment period ends 01/09/2021 |
11 May 2021
UKEB Work plan—other IASB projects
Research and standard-setting projects
| Project | H1 2021 Projects | H2 2021 Projects or timing not specified |
|---|---|---|
| Equity Method | Decide project direction expected | |
| Extractive Industries | Decide project direction July 2021 | |
| Financial Instruments with Characteristics of Equity | Exposure Draft expected | |
| Pension Benefits that Depend on Asset Returns | Review research Q3 2021 |
Maintenance projects
| Project | H1 2021 Projects | H2 2021 Projects or timing not specified |
|---|---|---|
| Availability of a Refund (Amendments to IFRIC 14) | Decide project direction expected | |
| Provisions—Targeted Improvements | Decide project direction expected |
Other projects
| Project | H1 2021 Projects | H2 2021 Projects or timing not specified |
|---|---|---|
| Management Commentary | ED expected May 2021 |
11 May 2021
UKEB Work plan—monitoring influencing projects
| Project | Comments from IASB work plan 11 May 2021 | Last milestone achieved |
|---|---|---|
| ED Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16) issued on 27 November 2020 | ED feedback May 2021 | Submitted comment letter 26 March 2021 |
| Comment period ended 29 March 2021 | ||
| DP Business Combinations—Disclosures, Goodwill and Impairment issued on 19 March 2020 | DP feedback May 2021 | Submitted comment letter 29 January 2021 |
| Comment period ended 31 December 2020 | ||
| ED General Presentation and Disclosures issued on 17 December 2019 | IFRS Standard expected | Submitted comment letter 30 September 2020 |
| Comment period ended 30 September 2020 |