UKEB Work Plan 21st April 2022
UKEB Workplan – Endorsement Projects
21 April 2022
| Project | Issued | Last milestone achieved | Status / Effective Date | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 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: ECA & FBS | Board: Adoption decision, 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 – Endorsement Projects – Continued
13 April 2022
| Project | Issued | Last milestone achieved | Status / Effective Date | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) | 23/01/20 | TBC (see influencing project below) | |||||||
| 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 | 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 | 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 | Public consultation |
UKEB Workplan – Influencing Projects
13 April 2022
| Project | Issued | Last milestone achieved | Status / Effective Date | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Major | |||||||||
| — |
| Project | Issued | Last milestone achieved | Status / Effective Date | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Narrow-scope amendments | |||||||||
| ED Non-Current Liabilities with Covenants (Amendments to IAS 1) | 19/11/21 | UKEB FCL and FBS published | IASB comment period ends 21/03/22 | Board: DPCS for noting | |||||
| ED Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) | 26/11/21 | UKEB FCL and FBS published | IASB comment period ends 28/03/22 | Board: DPCS for noting |
UKEB Workplan—Influencing ISSB Projects
13 April 2022
| Project | Issued | Last milestone achieved | Status / Effective Date | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Major | |||||||||
| ED1: General | Board: Approve PIP | Public consultation | |||||||
| ED 2: Climate | 31/03/22 | ISSB ED published | ISSB comment period ends 29/07/22 | Board: Approve DCL(s)1 | Board: Approve FCL(s)2 |
UKEB Workplan—Research for Influencing Projects
13 April 2022
| Project | Started | Last milestone achieved | Target Completion | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 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
13 April 2022
| Project | Started | Current Activity | Target Completion | Apr 2022 | May 2022 | Jun 2022 | Jul 2022 | Aug 2022 | Sep 2022 |
|---|---|---|---|---|---|---|---|---|---|
| Major Projects | |||||||||
| UKEB Proactive Research: Intangibles | 27/10/21 | Research Underway | H2 2023 | Board: Approve Draft Report | Public consultation | Board: Approve Final Report |
UKEB Workplan—Monitoring Influencing Projects
13 April 2022
| Project | Comments from IASB work plan 10/02/22 | Last milestone achieved |
|---|---|---|
| ED Disclosure Initiative—Subsidiaries without public accountability | ED feedback expected April 2022 | Submitted comment letter 24/02/21 |
| RfI Post-implementation Review of IFRS 9—Classification and Measurement | Feedback Statement Q3 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 Q3 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 June 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 Q3 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]
Footnotes
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Per the 2022 UKEB Regulatory Strategy: This project assesses any overlaps on IASB Standards from the ISSB issued Exposure Drafts. ↩
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If it is determined that there is limited overlap with the IFRS S2, a single letter will be submitted the ISSB on IFRS S1, incorporating any relevant areas from IFRS S2. ↩