Due Process Compliance Statement - IFRS 19 Subsidiaries without Public Accountability: Disclosures

IFRS 19 Subsidiaries without Public Accountability: Disclosures

Issued

• IFRS 19 Subsidiaries without Public Accountability: Disclosures was issued on 9 May 2024.
• Consequential amendments to IFRS 19:
• Amendments to IFRS 9 and IFRS 7—Amendments to the Classification and Measurement of Financial Instruments, issued in May 2024; and
• Amendments to IFRS 9 and IFRS 7—Contracts Referencing Nature dependent Electricity, issued in December 2024.
• Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures (the 'Amendments'), issued in August 2025.

The amended IFRS 19 has an effective date of 1 January 2027. Earlier application is permitted.

Milestone: Project Initiation Plan (PIP) (mandatory) [Due Process Handbook (Handbook) 6.12–6.16, A1–A2]

PIP completed (including objective, timeline, milestones, outreach plan, resources, output and explanations for any change in consultation period or whether an advisory group is necessary) and approved at public meeting

Complete: The PIP was approved at the 15 July 2025 Board meeting subject to further revisions.

Assessment of whether PIP required updating

Complete: The PIP presented at the 15 July 2025 Board meeting was published on the UKEB webpage on 18 July 2025.

Education Session (optional) [Handbook 4.10]

Board provided with Education session

Complete: The Board was provided with an education session on 11 July 2025. The Board had an opportunity to ask questions to the Secretariat. This was a private session.

Milestone: Desk-based Research (optional) [Handbook 6.17 and A3]

Review of relevant documentation

Complete: The Secretariat has reviewed relevant documentation, including:

• The IASB’s work on IFRS 19 (including staff papers, the final Standard and Amendments including supporting materials).
• The Basis for Conclusions to the Standard and the Amendments.
• Comment letters on the EDs received by the IASB from UK stakeholders including from the UKEB Secretariat.
• Publications on IFRS 19 e.g. an accounting firm guide comparing the disclosure requirements in IFRS 19 with those in full IFRS.
• The IASB’s IFRS 19 disclosure tracker which lists the disclosure requirements in IFRS 19 and maps them to their equivalents in other IFRS Accounting Standards.
• Other standard setters’ views.
• The European Financial Reporting Advisory Group (EFRAG) endorsement advice to the European Commission.

Milestone: Consult with a Representative Range of Stakeholders Prior to Adoption (mandatory) [Handbook 6.18–6.21 and A4–A8]

Evidence of consultation

Complete: As described in paragraph 15 of the PIP and in the [Draft] Endorsement Criteria Assessment of IFRS 19 (paragraph 2.12), consultation activities were focused on:

• User and preparer interviews conducted in Q3 2025¹.
• Discussion with the following Advisory Groups²:
• Preparer Advisory Group (PAG) on 20 October 2025³;
• Investor Advisory Group (IAG) on 3 November 2025⁴; and
• Accounting Firms and Institutes Advisory Group (AFIAG) on 11 November 2025⁵.
• Public consultation of the [Draft] Endorsement Criteria Assessment of IFRS 19. The comment letters received were published on the UKEB website.
• Further discussions with UKEB advisory groups in Q1 2026 to provide an update on the endorsement project and to encourage members to submit formal responses.

Milestone: [Draft] ECA (mandatory) [Handbook 6.23–6.29]

The UKEB sets comment period for responses to [Draft] ECA

Complete: The [Draft] ECA of IFRS 19 was published for consultation on 28 November 2025. It was open for comment for 90 days until 26 February 2026.

Review and approval at a UKEB public meeting

Complete: The Board discussed the sections of the [Draft] ECA at its meetings on 25 September 2025 and 30 October 2025. The [Draft] ECA of IFRS 19 was reviewed and approved at the Board meeting on 20 November 2025.

[Draft] ECA published on website for public consultation

Complete: The Secretariat published the approved [Draft] ECA of IFRS 19 on the UKEB website for a 90-day consultation period from 28 November 2025 to 26 February 2026.

Public responses to [Draft] ECA assessed and published on website

Complete: The UKEB received nine comment letters which were published on the UKEB website.

The Board discussed a summary of the feedback received on these at its meeting on 26 March 2026. All responses were assessed, reflected as appropriate in the final ECA and summarised in the Feedback Statement.

Milestone: Project closure (mandatory) [Handbook 6.32–6.40]

Final ECA, Feedback Statement, Adoption Statement and DPCS approved by the UKEB in public meeting

Complete: Draft of the final ECA, [draft] Feedback Statement, [draft] Adoption Statement [draft] DPCS presented for approval to the Board at its 23 April 2026 public meeting. The Board approved the final ECA, the draft final Feedback Statement subject to suggested amendments, including the Adoption Statement. A final DPCS was presented for noting at the Board’s May 2026 meeting.

Final ECA, Feedback Statement, Adoption Statement and DPCS published on the website

Complete: The final ECA, Feedback Statement, Adoption Statement were published on the UKEB website on 13 May 2026. A News Alert and a LinkedIn post were published on 13 May 2026 to alert stakeholders to the endorsement and adoption of IFRS 19.

The final DPCS was published on the UKEB website after the 21 May 2026 Board meeting.

Milestone: Voting on Adoption of IFRS 19 (mandatory) [Handbook 6.42–6.48]

Tentative vote

Complete: Tentative vote took place at the 23 April 2026 2026 Board meeting based on the discussion of the Adoption Package, which included the final draft ECA, the Feedback Statement, the DPCS, the draft Adoption Statement for IFRS 19 and the text of the UK-adopted international accounting standard IFRS 19 Subsidiaries without Public Accountability: Disclosures. The vote was indicative only.

Evidence of written vote (in paper or electronic form)

Complete: The Adoption Statement and voting forms were sent to the Board for voting (accompanied by the text of IFRS 19 to be adopted) on 30 April 2026 (written forms due by 8 May 2026). The vote was formalised by Board members signing the formal voting forms for the Standard.

Outcome of the vote within 3 working days of the formal vote published on website

Complete: The announcement of the adoption of IFRS 19 was published on the UKEB website on 13 May 2026.

Communications (mandatory) [Handbook 4.20–4.25]

Board meeting papers posted and publicly available usually no later than 5 working days before a Board meeting

Complete: The UKEB’s meeting papers were published on the UKEB website 5 working days before the public meetings. Meeting minutes and recordings were made publicly available via the UKEB website.

Project webpage contains a project description with up-to-date project information

Complete: The project webpage has been updated regularly on a timely basis.

Subscriber alerts

Complete: Subscribers were alerted via email 5 working days before each Board meeting, with links to the agenda, papers and the option to dial in to observe the discussion.

News Alerts

Complete: Two News Alerts were published on 28 November 2025, and 23 February 2026 calling for comments on the [Draft] ECA.

The FRC shared the IFRS 19 [Draft] ECA news alert on 17 December 2025.

LinkedIn posts for the [Draft] ECA were published on: 28 November 2025, 8 December 2025, 22 December 2025, 6 January 2026, 19 January 2026, 5 February 2026, 11 February 2026, 18 February 2026 and 23 February 2026.

A News Alert announcing the adoption of IFRS 19, along with links to the project page which includes publication of the final ECA and the Feedback Statement, was published on 13 May 2026.

A LinkedIn post announcing the adoption of IFRS 19 was published on 13 May 2026.

Conclusion

This project complies with the applicable due process steps, as set out in the December 2022 Handbook.