UKEB Work Plan 18th March 2022

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Publication date
22 March 2022
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PDF, 269.4 KB
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UKEB Workplan—Adoption Projects

Project Issued Last milestone achieved Status / Effective Date Mar 2022 Apr 2022 May 2022 Jun 2022 Jul 2022 Aug 2022
Major
IFRS 17 Insurance Contracts (incorporates 2021 amendment Initial Application of IFRS 17 and IFRS 9—Comparative Information) 05/2017
25/06/20		 DECA Published 11/11/21 01/01/23 Board: Draft final ECA and FBS
Final technical issues		 Board: Adoption decision, ECA & FBS Board: DPCS for noting
Narrow-scope amendments
Annual Improvements to IFRS 2018-2020 14/05/20 DECA comment period ended 30/11/21 01/01/22 Board: DPCS for noting
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: DPCS for noting
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: DPCS for noting
Reference to the Conceptual Framework (Amendments to IFRS 3) 14/05/20 DECA comment period ended 30/11/21 01/01/22 Board: DPCS for noting

UKEB Workplan—Adoption Projects - Continued

Project Issued Last milestone achieved Status / Effective Date Mar 2022 Apr 2022 May 2022 June 2022 July 2022 Aug 2022
Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) 23/01/20 TBC (see influencing project below) Board: Approve PIP Board: Approve DECA Public consultation Public consultation
Deferral of Effective Date Amendment 15/07/20
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

Project Issued Last milestone achieved Status / Effective Date Mar 2022 Apr 2022 May 2022 June 2022 July 2022 Aug 2022
Major
ED Disclosure Initiative—Subsidiaries without public accountability 26/07/21 FCL published 24/02/21
Comment period ended 31/01/22		 IASB Comment period ended 31/01/22 Board: DPCS for noting
Dynamic Risk Management IASB to decide project direction May 2022

Narrow-scope amendments

Project Issued Last milestone achieved Status / Effective Date Mar 2022 Apr 2022 May 2022 June 2022 July 2022 Aug 2022
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 FCL & FBS.
Submit FCL to IASB & publish		 Board: DPCS for noting
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 FCL & FBS.
Submit FCL to IASB & publish		 Board: DPCS for noting

UKEB Workplan—Research for Influencing Projects

Project Started Last milestone achieved Target Completion Mar 2022 Apr 2022 May 2022 June 2022 July 2022 Aug 2022
Research on subsequent measurement of goodwill to support IASB redeliberations on DP Business Combinations, Disclosures, Goodwill and Impairment 27/10/21 Initial research published and shared with IASB 17/12/21 June 2022 Board: Approve Research Paper for publication

UKEB Workplan—Thought Leadership Projects

Project Started Current Activity Target Completion Mar 2022 Apr 2022 May 2022 June 2022 July 2022 Aug 2022
Major Projects
UKEB Proactive Research: Intangible Assets 27/10/21 Research Underway H2 2023 Board: Approve Draft Report

UKEB Workplan—Monitoring Influencing Projects

Project Comments from IASB work plan 10/02/22 Last milestone achieved
RfI Post-implementation Review of IFRS 9—Classification and Measurement RfI feedback March 2022 Submitted comment letter 28/01/22
ED Disclosure Requirements in IFRS Standards—A Pilot Approach (IFRS 13 & IAS 19) ED feedback expected May 2022 Submitted comment letter 17/12/21
RfI IASB Third Agenda Consultation published on 30/03/21
Comment period ended 27/09/21		 Feedback Statement expected Q3 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		 Decide project direction Q2 2022 Submitted comment letter 31/08/21
DP Business Combinations under Common Control published on 30/11/20
Comment period ended 01/09/21		 Decide project direction 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 H2 2022 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]