UKEB Work Plan 20th July 2021
UKEB Work plan—adoption projects
20 July 2021
Major—endorsement and adoption project
| Project | Issued | Last milestone achieved | Status / Effective Date | Jul 2021 | Aug 2021 | Sep 2021 | Oct 2021 | Nov 2021 | Dec 2021 |
|---|---|---|---|---|---|---|---|---|---|
| IFRS 17 Insurance Contracts Amendments to IFRS 17 | 05/2017 25/06/2020 |
01/01/2023 | - 08/07 TAG meeting - Outreach - Drafting DECA - Board: Technical papers |
- Drafting DECA | - Drafting DECA - Board: Technical papers |
- Board: Approve DECA | - Public consultation | - Public consultation - Updating DECA |
Narrow-scope amendments—endorsement and adoption projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Jul 2021 | Aug 2021 | Sep 2021 | Oct 2021 | Nov 2021 | Dec 2021 |
|---|---|---|---|---|---|---|---|---|---|
| Annual Improvements to IFRS 2018–2020 | 14/05/20 | 01/01/2022 | - Board: Approve PIP | - Drafting DECA | - Board: Approve DECA | - Public consultation | - Board: Approve Adoption package | ||
| Onerous Contracts—Cost of Fulfilling a Contract (Amendments to IAS 37) | 14/05/20 | 01/01/2022 | - Board: Approve PIP | - Drafting DECA | - Board: Approve DECA | - Public consultation | - Board: Approve Adoption package | ||
| Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) | 14/05/20 | 01/01/2022 | - Board: Approve PIP | - Drafting DECA | - Board: Approve DECA | - Public consultation | - Board: Approve Adoption package | ||
| Reference to the Conceptual Framework (Amendments to IFRS 3) | 14/05/20 | 01/01/2022 | - Board: Approve PIP | - Drafting DECA | - Board: Approve DECA | - Public consultation | - Board: Approve Adoption package | ||
| 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 | |||||||
| Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) | 07/05/21 | 01/01/2023 |
UKEB Work plan—influencing projects
13 July 2021
Major—influencing projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Jul 2021 | Aug 2021 | Sep 2021 | Oct 2021 | Nov 2021 | Dec 2021 |
|---|---|---|---|---|---|---|---|---|---|
| ED Rate-regulated Activities | 28/01/2021 | Comment period ends 30/07/2021 | - Outreach on Draft Comment Letter (DCL) - Board: Approve final comment letter (FCL) |
- Board: Approve Feedback Statement (FBS) | |||||
| Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards | 30/04/2021 | Comment period ends 29/07/2021 | - Board: Approve CL - Submit FCL to IFRS Foundation and publish |
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| DP Business Combinations under Common Control | 30/11/2020 | Comment period ends 01/09/2021 | - Board: Approve FCL and Feedback Statement | - Submit FCL to IASB and publish | |||||
| RfI IASB Third Agenda Consultation | 30/03/2021 | Comment period ends 27/09/2021 | - Board: Approve DCL - Joint outreach event with IASB |
- Public consultation | - Public consultation | - Board: Approve FCL and FBS | - Submit FCL to IASB and publish | ||
| ED Disclosure Requirements in IFRS Standards—A Pilot Approach (IFRS 13 & IAS 19) | 25/03/2021 | Comment period ends 21/10/2021 | - Board: Approve | - Public consultation | - Public consultation | - Board: Approve FCL and FBS | - Submit FCL to IASB and publish | ||
| Disclosure Initiative—Subsidiaries that are SMEs | ED expected July 2021 | PIP and DCL | |||||||
| RfI Post-implementation Review of IFRS 9—Classification and Measurement | Expected September 2021 | ||||||||
| Dynamic Risk Management | Decide project direction H1 2022 | ||||||||
| ED Classification of Debt with Covenants as Current or Non-current (Amendments to IAS 1) | Expected Q4 2021 |
Narrow-scope amendments—influencing projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Jul 2021 | Aug 2021 | Sep 2021 | Oct 2021 | Nov 2021 | Dec 2021 |
|---|---|---|---|---|---|---|---|---|---|
| ED Lack of Exchangeability (Amendments to IAS 21) | 20/04/2021 | Comment period ends 01/09/2021 | - Board: Approve PIP and DCL | - Board: Approve FCL and FBS - Submit FCL to IASB and publish |
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| ED Initial Application of IFRS 17 and IFRS 9—Comparative Information (Amendments to IFRS 17) | Expected July 2021 | Expected comment period 60 days | - Outreach - Board: Approve PIP and tentative position for DCL |
- Public consultation - Other targeted outreach |
- Board: Approve FCL and FBS - Submit FCL to IASB and publish |
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| ED Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) | Expected Q4 2021 |
UKEB Work plan—monitoring influencing projects
13 July 2021
| Project | Comments from IASB work plan 2 July 2021 | Last milestone achieved |
|---|---|---|
| RfI Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12 issued on 9 December 2020 Comment period ended 10 May 2021 |
RfI feedback July 2021 | Submitted comment letter 21 May 2021 |
| ED Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16) issued on 27 November 2020 Comment period ended 29 March 2021 |
Decide project direction Q4 2021 | Submitted comment letter 26 March 2021 |
| DP Business Combinations—Disclosures, Goodwill and Impairment issued on 19 March 2020 Comment period ended 31 December 2020 |
Decide project direction July 2021 | Submitted comment letter 29 January 2021 |
| ED General Presentation and Disclosures issued on 17 December 2019 Comment period ended 30 September 2020 |
IFRS Standard expected | Submitted comment letter 30 September 2020 |