14 Advisory Groups Update
17 September 2026 Agenda Paper 14
OFFICIAL - PUBLIC
Executive Summary
| Project Type | N/A |
| Project Scope | N/A |
Purpose of the paper
The purpose of this paper is to provide an update on meetings held by the following UKEB Advisory Groups and Working Groups, to accompany the verbal updates given by their Chairs:
- Academic Advisory Group (Chair: Amir Amel-Zadeh)
- Accounting Firms and Institutes Advisory Group (Chair: Mike Metcalf)
- Investor Advisory Group (Chair: Sue Harding)
- Preparer Advisory Group (Chair: Owen Glaysher)
- Rate-regulated Activities Technical Advisory Group (Chair: Rob McPheely)
- Financial Instruments Working Group (Chair: Seema Jamil-O’Neill)
- Sustainability Working Group (Chair: Seema Jamil-O’Neill)
Summary of the Issue
All the groups, set out above, are advisory, consultative groups. They are not decision-making bodies. The advisory groups provide specialist knowledge and information as input into the Board’s technical decision-making, while the working groups solely advise the UKEB Secretariat.
The Advisory Groups webpage of the UKEB website sets out the purpose of each group, a list of each group’s members and their biographies, and a link to its Terms of Reference. In addition, minutes for each meeting are uploaded as they become available.
The table below also sets out the meetings held by these groups during the last 12 months and includes links to the meeting minutes, available at the time of writing.
Since the July 2026 Board meeting, the summary minutes of the Preparer Advisory Group (PAG) meeting, on 15 June 2026, the Financial Instruments Working Group (FIWG) meeting, on 30 June 2026, and the Rate-Regulated Activities Technical Advisory Group (RRA TAG) meeting on the 27 July 2026, have been published on the website.
The Academic Advisory Group (AAG) met on the 11 September 2026, and the RRA TAG met on the 16 September 2026. The summary minutes of those meetings will be published in due course.
Horizon scanning items raised by the Advisory Groups
The horizon scanning issues highlighted by members of the advisory and working groups, during the last year, are set out in a table below.
Decisions for the Board
No decisions required.
Recommendation
The Board is recommended to review the summary minutes of the groups’ meetings.
| Group | Meeting Date | Link to Minutes | Date of publication |
|---|---|---|---|
| Academic Advisory Group | 19 September 2025 | Summary Minutes | 17 October 2025 |
| Academic Advisory Group | 17 April 2026 | Summary Minutes | 15 May 2026 |
| Academic Advisory Group | 11 September 2026 | To be published | (within one month) |
| Accounting Firms and Institutes Advisory Group | 11 November 2025 | Summary Minutes | 11 December 2025 |
| Accounting Firms and Institutes Advisory Group | 10 March 2026 | Summary Minutes | 8 April 2026 |
| Accounting Firms and Institutes Advisory Group | 9 June 2026 | Summary Minutes | 7 July 2026 |
| Investor Advisory Group | 3 November 2025 | Summary Minutes | 2 December 2025 |
| Investor Advisory Group | 2 February 2026 | Summary Minutes | 26 February 2026 |
| Investor Advisory Group | 1 June 2026 | Summary Minutes | 30 June 2026 |
| Preparer Advisory Group | 20 October 2025 | Summary Minutes | 14 October 2025 |
| Preparer Advisory Group | 2 March 2026 | Summary Minutes | 30 March 2026 |
| Preparer Advisory Group | 15 June 2026 | Summary Minutes | 13 July 2026 |
| Rate-regulated Activities Technical Advisory Group | 24 September 2025 | Summary Minutes | 22 October 2025 |
| Rate-regulated Activities Technical Advisory Group | 12 December 2025 | Summary Minutes | 9 January 2026 |
| Rate-regulated Activities Technical Advisory Group | 27 July 2026 | Summary Minutes | 21 August 2026 |
| Rate-regulated Activities Technical Advisory Group | 16 September 2026 | To be published | (within one month) |
| Financial Instruments Working Group | 25 November 2025 | Summary Minutes | 19 December 2025 |
| Financial Instruments Working Group | 15 January 2026 | Summary Minutes | 13 February 2026 |
| Financial Instruments Working Group | 22 April 2026 | Summary Minutes | 20 May 2026 |
| Financial Instruments Working Group | 30 June 2026 | Summary Minutes | 29 July 2026 |
| Sustainability Working Group | — | — | — |
| Meeting | Horizon Scanning Issue |
|---|---|
| FIWG June 2026 | IFRS 18: The Group noted that financial institutions are currently preparing for transitioning to IFRS 18 Presentation and Disclosure in Financial Statements and one of the topics currently under discussion is the identification of management-defined performance measures. |
| FIWG June 2026 | Amortised Cost Measurement: Members indicated they would welcome the opportunity to discuss later in the year the Amortised Cost Measurement project (including the tentative decisions made by the IASB so far), in advance of an Exposure Draft expected in 2027. |
| AFIAG June 2026 | IFRS 20: The group discussed concerns about how subjective elements will operate in practice, as judgment remains a significant issue. A member noted certain sectors may be interested in early adoption, whereas it may be controversial to recognise additional revenue in other sectors. |
| AFIAG June 2026 | Sustainability: A member highlighted concerns regarding environmental / sustainability-related issues (e.g. emissions, vulnerabilities). |
| IAG June 2026 | Hyperscaler lease commitments: A member noted recent issues identified in the accounts of some US entities. Members discussed the extent to which the accounting would be expected to align with, or differ from, the IFRS approach. |
| IAG June 2026 | Accounting for acquired debt: A member noted some questions that were being raised around the approaches being taken to its valuation after acquisition. |
| PAG June 2026 | Statement of Cash Flows: A member noted recent IASB engagement on the statement of cash flows project. |
| PAG June 2026 | Intangibles: A member highlighted the need for progress on the IASB intangibles project, noting the age of the existing requirements, in the context of significant technological change, and the relatively slow progress on the project. |
| PAG June 2026 | High Court Judgment: A member noted a recent High Court Judgement with potential wider sectoral consequences. |
| IAG November 2025 | Private credit: A member noted increased exposures to supply chain, invoice and inventory financing, which are projected to continue to expand. Accounting implications should be kept under review. |
| IAG November 2025 | Disclosure burden: Several members considered possible areas where disclosures in annual reports could potentially be curtailed or were less useful to some users. However, others noted that they found those same disclosures useful. |
| IAG November 2025 | Machine learning: A member highlighted the risk of hallucination in LLMs and other AI where non-standard labels are used in XBRL tagged information. |
| FIWG November 2025 | Risk Mitigation Accounting: A member proposed detailed discussion of the IASB’s Dynamic Risk Management project at a future meeting. |
| PAG October 2025 | IFRIC Decision: Members raised the IASB’s recent Tentative Agenda Decision: Classification of a Foreign Exchange Difference from an Intragroup Monetary Liability (or Asset) (IFRS 18) and the potential to impact for many UK companies. |