UKEB Work Plan 17th September 2021
UKEB Workplan—Adoption Projects
17 September 2021
| Project | Issued | Last milestone achieved | Status / Effective Date | Sep 2021 | Oct 2021 | Nov 2021 | Dec 2021 | Jan 2022 | Feb 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Major-endorsement and adoption project | |||||||||
| IFRS 17 Insurance Contracts Amendments to IFRS 17 | 05/2017 | 25/06/2020 | 01/01/2023 | • Drafting DECA • Board: Technical papers |
• Public consultation | • Board: Approve Adoption package • Public consultation • Updating DECA |
• Public consultation • Updating DECA |
• ECA finalisation | |
| Narrow-scope amendments—endorsement and adoption projects | |||||||||
| Annual Improvements to IFRS 2018–2020 | 14/05/20 | 01/01/2022 | • 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 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 DECA | • Public consultation | • Board: Approve Adoption package | ||||
| Reference to the Conceptual Framework (Amendments to IFRS 3) | 14/05/20 | 01/01/2022 | • 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 |
| Project | Issued | Last milestone achieved | Status / Effective Date | Sep 2021 | Oct 2021 | Nov 2021 | Dec 2021 | Jan 2022 | Feb 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Accounting Policies and Accounting Estimates (Amendments to IAS 8) | 12/02/21 | 01/01/2023 | • Board: Approve PIP | • Board: Approve DECA | |||||
| Disclosure Initiative—Accounting Policies (Amendments to IAS 1) | 12/02/21 | 01/01/2023 | • Board: Approve PIP | • Board: Approve DECA | |||||
| Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) | 07/05/21 | 01/01/2023 | • Board: Approve PIP | • Board: Approve DECA |
UKEB Workplan—Influencing Projects
10 September 2021
| Project | Issued | Last milestone achieved | Status / Effective Date | Sep 2021 | Oct 2021 | Nov 2021 | Dec 2021 | Jan 2022 | Feb 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Major-influencing projects | |||||||||
| ED Rate-regulated Activities | 28/01/2021 | Comment letter submitted 30/07/21 | Comment period ends 30/07/2021 | • Board: Approve Feedback Statement (FBS) | • | ||||
| RfI IASB Third Agenda Consultation | 30/03/2021 | Comment period ends 27/09/2021 | Comment period ends 27/09/2021 | • 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 12/01/2022 (extended) | Comment period ends 12/01/2022 (extended) | • Board: Approve updated PIP | • | • | • Board: Approve FCL and FBS | • Submit FCL to IASB and publish | |
| ED Disclosure Initiative—Subsidiaries without public accountability | 26/07/21 | Comment period ends 31/01/2022 | |||||||
| RfI Post-implementation Review of IFRS 9—Classification and Measurement | Expected September 2021 | ||||||||
| Dynamic Risk Management | Decide project direction H1 2022 |
| Project | Issued | Last milestone achieved | Status / Effective Date | Sep 2021 | Oct 2021 | Nov 2021 | Dec 2021 | Jan 2022 | Feb 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Narrow-scope amendments—influencing projects | |||||||||
| ED Lack of Exchangeability (Amendments to IAS 21) | 20/04/2021 | Comment letter submitted 31/08/2021 | Comment period ends 01/09/2021 | • Board: Approve FBS | • | ||||
| ED Initial Application of IFRS 17 and IFRS 9—Comparative Information (Amendments to IFRS 17) | 28/07/2021 | Comment period ends 27/09/2021 | • Board: Approve FCL and FBS • Submit FCL to IASB and publish |
• | |||||
| ED Classification of Debt with Covenants as Current or Non-current (Amendments to IAS 1) | Expected November 2021 | ||||||||
| ED Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) | Expected November 2021 |
UKEB Workplan—Monitoring Influencing Projects
10 September 2021
| Project | Comments from IASB work plan 8 September 2021 | Last milestone achieved |
|---|---|---|
| DP Business Combinations under Common Control issued on 30/11/2020 Comment period ended 01/09/2021 |
DP feedback Q4 2021 | Submitted comment letter 26 August 2021 |
| Proposed Targeted Amendments to the IFRS Foundation Constitution to Accommodate an International Sustainability Standards Board to Set IFRS Sustainability Standards | ED feedback October 2021 | Submitted comment letter 29 July 2021 |
| 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 statement Q1 2022 | 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 September 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 |