UKEB Work Plan 20th January 2022

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Publication date
25 January 2022
Format
PDF, 256.8 KB
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UKEB Workplan – Adoption Projects

20 January 2022

Project Issued Last milestone achieved Status / Effective Date Jan 2022 Feb 2022 Mar 2022 Apr 2022 May 2022 June 2022
Major
IFRS 17 Insurance Contracts Amendments to IFRS 17 (incorporates amendment Initial Application of IFRS 17 and IFRS 9 – Comparative Information 2021) 05/2017 25/06/20 DECA Published 11/11/21 01/01/23 Public consultation Public consultation ends 3/2/22 Board: Adoption decision, ECA & FBS
Narrow-scope amendments
Annual Improvements to IFRS 2018–2020 14/05/20 DECA comment period ended 30/11/21 01/01/22 Board: Approve ECA & Adoption package
Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37) 14/05/20 DECA comment period ended 30/11/21 01/01/22 Board: Approve ECA & Adoption package
Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) 14/05/20 DECA comment period ended 30/11/21 01/01/22 Board: Approve ECA & Adoption package
Reference to the Conceptual Framework (Amendments to IFRS 3) 14/05/20 DECA comment period ended 30/11/21 01/01/22 Board: Approve ECA & Adoption package
Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) 23/01/20 15/07/20 TBC (see influencing project below)
Deferral of Effective Date Amendment
Accounting Policies and Accounting Estimates (Amendments to IAS 8) 12/02/21 01/01/23 Board: Approve PIP Board: Approve DECA Public consultation Public consultation
Disclosure Initiative – Accounting Policies (Amendments to IAS 1) 12/02/21 01/01/23 Board: Approve PIP Board: Approve DECA Public consultation Public consultation
Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) 07/05/21 01/01/23 Board: Approve PIP Board: Approve DECA Public consultation Public consultation

UKEB Workplan – Influencing Projects

20 January 2022

Project Issued Last milestone achieved Status / Effective Date Jan 2022 Feb 2022 Mar 2022 Apr 2022 May 2022 June 2022
Major
ED Disclosure Requirements in IFRS Standards – A Pilot Approach (IFRS 13 & IAS 19) 25/03/21 FCL published 17/12/21 IASB Comment period ended 12/01/22 (extended) Board DPCS for noting
ED Disclosure Initiative – Subsidiaries without public accountability 26/07/21 DCL published 17/12/21 Comment period ends 31/01/22 IASB Comment period ends 31/01/22 Public consultation ends 31/01/2022 Board: Approve FCL & FBS. Submit FCL to IASB & publish
RfI Post-implementation Review of IFRS 9 – Classification and Measurement 30/09/21 DCL published 15/12/2021 Comment period ended 10/01/22 IASB Comment period ends 28/01/22 Board: Approve FCL & FBS. Submit FCL to IASB & publish
Dynamic Risk Management IASB to decide project direction Q2 22
Narrow-scope amendments
ED Non-Current Liabilities with Covenants (Amendments to IAS 1) 19/11/21 IASB ED published IASB Comment period ends 21/03/22 Board: Approve PIP & DCL UKEB public consultation ends 01/03/22 Board: Approve FCL & FBS. Submit FCL to IASB & publish
ED Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) 26/11/21 IASB ED published IASB Comment period ends 28/03/22 Board: Approve PIP & DCL UKEB public consultation ends 03/03/22 Board: Approve FCL & FBS Submit FCL to IASB & publish

UKEB Workplan – Research for Influencing Projects

20 January 2022

Project Issued Last milestone achieved Status / Effective Date Jan 2022 Feb 2022 Mar 2022 Apr 2022 May 2022 June 2022
Research on subsequent measurement of goodwill to support IASB redeliberations on DP Business Combinations, Disclosures, Goodwill and Impairment Request received from IASB 09/21 Initial research published and shared with IASB 17/12/21 - Board: Approve updated PIP Board: Approve research for publication

UKEB Workplan – Thought Leadership Projects

20 January 2022

Project Started Current Activity Target Completion Jan 2022 Feb 2022 Mar 2022 Apr 2022 May 2022 June 2022
Major Projects
UKEB Proactive Research: Intangible Assets 27/10/21 Planning H2 23 Board: Approve Research PIP

UKEB Workplan – Monitoring Influencing Projects

20 January 2022

Project Comments from IASB work plan 11/01/22 Last milestone achieved
RfI IASB Third Agenda Consultation published on 30/03/21 Comment period ended 27/09/21 Feedback Statement expected H2 2022 Submitted comment letter 23/09/21
ED Lack of Exchangeability (Amendments to IAS 21) published on 20/04/21 Comment period ended 01/09/21 ED feedback January 2022 Submitted comment letter 31/08/21
DP Business Combinations under Common Control published on 30/11/20 Comment period ended 01/09/21 DP feedback January 2022 Submitted comment letter 26/08/21
ED Rate-regulated Activities published on 28/01/21 Comment period ended 01/07/21 Waiting publication of Standard Submitted comment letter 30/07/21
RfI Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12 published on 09/12/20 Comment period ended 10/05/21 RfI Feedback Statement expected Q2 2022 Submitted comment letter 21/05/21
ED Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16) published on 27/11/20 Comment period ended 29/03/21 Waiting publication of Amendment Submitted comment letter 26/03/21
DP Business Combinations: Disclosures, Goodwill and Impairment published on 19/03/20 Comment period ended 31/12/20 Decide project direction H2 2022 Submitted comment letter 29/01/21
ED General Presentation and Disclosures published on 17/12/19 Comment period ended 30/09/20 Waiting publication of Standard Submitted comment letter 30/09/20

Glossary

DECA:
Draft Endorsement Criteria Analysis
DCL:
Draft Comment Letter
DP:
Discussion Paper
DPCS:
Due Process Compliance Statement
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

Dates are indicative only and subject to change. Any queries please contact us at [email protected]