UKEB Work Plan 23rd September 2022
Endorsement Projects (23 September 2022)
| Project | Issued | Last milestone achieved | Status / Effective Date | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Major | |||||||||
| - | |||||||||
| Narrow-scope amendments | |||||||||
| Definition of Accounting Estimates (Amendments to IAS 8) | 12/02/21 | 01/01/23 | Public consultation | Board: Discuss feedback | Board: Adoption decision | ||||
| Disclosure of Accounting Policies (Amendments to IAS 1 [and IFRS Practice Statement 2^1]) | 12/02/21 | 01/01/23 | Public consultation | Board: Discuss feedback | Board: Adoption decision | ||||
| Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) | 07/05/21 | 01/01/23 | Public consultation | Board: Discuss feedback | Board: Adoption decision | ||||
| Lease Liability in a Sale and Leaseback (Amendment to IFRS 16) | Sept 22 (expected) | Expected 01/01/24 | Board: PIP | Board: DECA | Public consultation | Public consultation | |||
| Classification of Liabilities as Current or Non-Current (2020 Amendments to IAS 1) | 23/01/20 | ||||||||
| Deferral of Effective Date Amendment^2 | 15/07/20 | Expected 01/01/24 | Board: PIP | Board: DECA | Public consultation | ||||
| Non-Current Liabilities with Covenants (2022 Amendments to IAS 1) | Nov 22 (expected) |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
Active Influencing Projects (16 September 2022)
| Project | Issued | Last milestone achieved | Status / Effective Date | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|
| IASB Projects | |||||||||
| There are currently no relevant IASB due process documents open for stakeholder comment | |||||||||
| ISSB Projects*^3 | |||||||||
| There are currently no relevant ISSB due process documents open for stakeholder comment |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
Active Monitoring of IASB/ISSB projects (16 September 2022)
| Project | Issued | Next Milestone | Expected Date | Last Milestone | Expected Next Steps |
|---|---|---|---|---|---|
| Primary Financial Statements | ED: 12/19 | IFRS Standard | - | FCL: 09/20 | Board Update - expected September 2022 |
| Goodwill and Impairment | DP: 03/20 | Decide Project Direction | Nov 2022 | FCL: 01/21 | See "Research on subsequent measurement of goodwill to support IASB redeliberations on DP Business Combinations, Disclosures, Goodwill and Impairment" below |
| Rate-regulated Activities | ED: 01/21 | IFRS Standard | - | FCL: 02/22 | Board Update - expected September 2022 |
| Lack of Exchangeability (Amendments to IAS 21) | ED: 04/21 | Decide Project Direction | - | FCL: 08/21 | |
| Supplier Finance Arrangements | ED: 11/21 | Decide Project Direction | Nov 2022 | FCL: 03/22 | |
| Disclosure Initiative—Subsidiaries without Public Accountability | ED: 03/21 | IFRS Standard | - | FCL: 02/22 | Board Update - expected November 2022 |
| Dynamic Risk Management | ED | - | - | ||
| Equity Method | Decide Project Direction | - | |||
| Extractive Activities | Decide Project Direction | Jul 2022 | - | ||
| Contractual Cash Flow Characteristics of Financial Assets (Amendments to IFRS 9) | ED | - | - | Board Update - expected February 2023 | |
| Financial Instruments with Characteristics of Equity | ED | - | - | Board Update - expected November 2022 | |
| Post-implementation Review of IFRS 9—Classification and Measurement | Rfl: 09/21 | Feedback Statement | Q4 2022 | FCL: 01/22 | Board Update - expected February 2023 |
| Post-implementation Review of IFRS 9 - Impairment | - | Rfl | H1 2023 | - | |
| ISSB EDs | Summary of Feedback | Sept 2022 | Board Update - expected October 2022 | ||
| ISSB Agenda Consultation | Rfl | Q4 2022 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
Research for Influencing Projects (16 September 2022)
| Project | Started | Last milestone achieved | Target Completion | Sep 2022 | Oct 2022 | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 |
|---|---|---|---|---|---|---|---|---|---|
| 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 | September 2022 | Board: Approve Research Paper for publication | |||||
| UKEB Pro-active Research: Intangibles | 27/10/21 | Research Underway | H2 2023 | Board: Discuss Draft Report | Board: Discuss Draft Report | Board: Approve Research Paper for publication | Public consultation | Public consultation |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
Completed Influencing Projects (16 September 2022)
| Project | Comments | Last milestone achieved |
|---|---|---|
| ED Disclosure Requirements in IFRS Standards—A Pilot Approach (IFRS 13 & IAS 19) | IASB: Decide project direction October 2022 | Submitted comment letter 12/21 |
| DP Business Combinations under Common Control | IASB: Decide project direction | Submitted comment letter 08/21 |
| Rfl Post-implementation Review of IFRS 10, IFRS 11 and IFRS 12 | Completed | Submitted comment letter 05/21 |
| IASB Third Agenda Consultation | Completed | Submitted comment letter 09/21 |
| Lease Liability in a Sale and Leaseback (Proposed amendment to IFRS 16) | Moved to Endorsement section | Submitted comment letter 03/21 |
| Non-current Liabilities with Covenants | Moved to Endorsement section | Submitted comment letter 03/21 |
Glossary
DECA: Draft Endorsement Criteria Assessment DCL: Draft Comment Letter DP: Discussion Paper DPCS: Due Process Compliance Statement ECA: Endorsement Criteria Assessment ED: Exposure Draft FBS: Feedback Statement FCL: Final Comment Letter IASB: International Accounting Standards Board PIP: Project Initiation Plan Rfl: Request for Information
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
Footnotes
Footnotes
-
An IFRS Practice Statement is non-mandatory guidance. The endorsement and adoption process applies only to the mandatory sections of standards that, if adopted, will become "UK-adopted international accounting standards". ↩
-
ED/2021/9 Non-current Liabilities with Covenants (Proposed amendments to IAS 1) published in November 2021 proposes a further deferral. ↩
-
Per the 2022 UKEB Regulatory Strategy: These projects assess any overlaps on IASB Standards from the ISSB issued Exposure Drafts. ↩