UKEB Work Plan 27th October 2021

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Publication date
28 October 2021
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PDF, 68.4 KB
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UKEB Endorsement Board 27 October 2021

UKEB Workplan—Adoption Projects

Project Issued Last milestone achieved Status / Effective Date Oct 2021 Nov 2021 Dec 2021 Jan 2022 Feb 2022 Mar 2022
Major—endorsement and adoption project
IFRS 17 Insurance Contracts Amendments to IFRS 17 05/2017 25/06/2020 01/01/2023 • Board: Approve Draft [ECA] • Board: Approve ECA and FBS
Narrow-scope amendments—endorsement and adoption projects
Annual Improvements to IFRS 2018–2020 14/05/20 01/01/2022 • Board: Approve ECA • Board: Approve Adoption package
Onerous Contracts—Cost of Fulfilling a Contract (Amendments to IAS 37) 14/05/20 01/01/2022 • Board: Approve ECA • Board: Approve Adoption package
Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) 14/05/20 01/01/2022 • Board: Approve ECA • Board: Approve Adoption package
Reference to the Conceptual Framework (Amendments to IFRS 3) 14/05/20 01/01/2022 • Board: Approve ECA • Board: Approve Adoption package
Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) 23/01/20 TBC
Deferral of Effective Date Amendment 15/07/20

UKEB Endorsement Board 27 October 2021

Project Issued Last milestone achieved Status / Effective Date Oct 2021 Nov 2021 Dec 2021 Jan 2022 Feb 2022 Mar 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 Endorsement Board 28 October 2021

UKEB Workplan—Influencing Projects

Project Issued Last milestone achieved Status / Effective Date Oct 2021 Nov 2021 Dec 2021 Jan 2022 Feb 2022 Mar 2022
Major—influencing projects
ED Disclosure Requirements in IFRS Standards—A Pilot Approach (IFRS 13 & IAS 19) 25/03/2021 Comment period ends 12/01/2022 (extended) • Board: Project Update • Board: Approve FCL and FBS • Submit FCL to IASB and publish
ED Disclosure Initiative—Subsidiaries without public accountability 26/07/2021 Comment period ends 31/01/2022 • Board: Approve PIP • Board: Approve DCL
RfI Post-implementation Review of IFRS 9—Classification and Measurement 30/09/2021 Comment period ends 28/01/2022 • Board: Approve PIP • Board: Approve DCL • Board: Approve FCL
Dynamic Risk Management Decide project direction H1 2022
Narrow-scope amendments—influencing projects
ED Classification of Debt with Covenants as Current or Non-current (Amendments to IAS 1) Expected November 2021 • Board: Approve PIP and DCL • Board: Approve FCL and FBS • Submit FCL to IASB and publish
ED Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) Expected November 2021 • Board: Approve PIP • Board: Approve DCL

UKEB Endorsement Board 28 October 2021

UKEB Workplan—Research for Influencing Projects

Project Issued Last milestone achieved Status / Effective Date Oct 2021 Nov 2021 Dec 2021 Jan 2022 Feb 2022 Mar 2022
DP Business Combinations—Disclosures, Goodwill and Impairment 19/03/2020 Comment letter submitted 29/01/21 IASB deciding project direction H1 2022 • Board: Approve Research PIP • Board: Approve Paper

UKEB Endorsement Board 28 October 2021

UKEB Workplan—Thought Leadership Projects

Project Started Current Activity Target Completion Oct 2021 Nov 2021 Dec 2021 Jan 2022 Feb 2022 Mar 2022
Major Projects
UKEB Discussion Paper: Intangible Assets 27/10/2021 Planning H2 2022 • Board: Approve Research PIP

UKEB Endorsement Board 28 October 2021

UKEB Workplan—Monitoring Influencing Projects

Project Comments from IASB work plan 18 October 2021 Last milestone achieved
RfI IASB Third Agenda Consultation issued on 30 March 2021 RfI feedback Nov 2021 Submitted comment letter 23 September 2021
ED Initial Application of IFRS 17 and IFRS 9—Comparative Information (Amendments to IFRS 17) ED feedback October 2021 Submitted comment letter 23 September 2021
ED Lack of Exchangeability (Amendments to IAS 21) ED feedback Q1 2022 Submitted comment letter 31 August 2021
DP Business Combinations under Common Control issued on 30/11/2020 Comment period ended 01/09/2021 DP feedback December 2021 Submitted comment letter 26 August 2021
ED Rate-regulated Activities ED feedback October 2021 Submitted comment letter 30 July 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
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

Glossary

  • DECA: Draft Endorsement Criteria Analysis
  • DCL: Draft Comment Letter
  • DP: Discussion Paper
  • ECA: Endorsement Criteria Analysis
  • ED: Exposure Draft
  • FBS: Feedback Statement
  • FCL: Final Comment Letter
  • IASB: International Accounting Standards Board
  • PIP: Project Initiation Plan
  • RfI: Request for Information