Adoption Status Report 19th November 2021
19 November 2021
IASB/IFRIC documents not yet adopted [Revisions to this schedule are marked in bold and Steps marked in blue have been completed]
| IASB Issue date | Draft Endorsement Criteria Assessment (DECA) | Final Endorsement Criteria Assessment (ECA) | Secretary of State adoption date | Publication date | IASB Effective date |
|---|---|---|---|---|---|
| STANDARDS | |||||
| IFRS 17 Insurance Contracts | 18 May 2017 | 1 January 2023 | |||
| Amendments to IFRS 17 | 25 June 2020 | ||||
| AMENDMENTS | |||||
| Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12) | 7 May 2021 | 1 January 2023 | |||
| Definition of Accounting Estimates (Amendments to IAS 8) | 12 February 2021 | 1 January 2023 | |||
| Disclosure of Accounting policies (Amendments to IAS 1 and IFRS Practice Statement 2) | 12 February 2021 | 1 January 2023 | |||
| • Annual Improvements to IFRS 2018–2020 | |||||
| • Onerous Contracts—Cost of Fulfilling a Contract (Amendments to IAS 37) | |||||
| • Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) | 14 May 2020 | 1 January 2022 | |||
| • Reference to the Conceptual Framework (Amendments to IFRS 3) | |||||
| Classification of Liabilities as Current or Non-Current (Amendments to IAS 1) and Deferral of Effective Date Amendment | 23 January 2020 15 July 2020 |
Deferred until not earlier than 1 January 20241 |
2021 list of UK Adoptions
19 November 2021
| Secretary of State adoption date | Publication date | IASB Effective date | |
|---|---|---|---|
| Covid-19-related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16) | 12 May 2021 | 12 May 2021 | 1 April 2021 |
| Interest Rate Benchmark Reform—Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16) | 5 January 2021 | 6 January 2021 | 1 January 2021 |
| Extension of the Temporary Exemption from Applying IFRS 9 (Amendments to IFRS 4)2 | 5 January 2021 | 6 January 2021 | 3 |
Footnotes
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ED/2021/9 Non-current Liabilities with Covenants (Proposed amendments to IAS 1) published in November 2021 proposes this deferral. ↩
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The Amendments were adopted in the EU by Commission Regulation (EU) 2020/2097 of 15 December 2020. However, the Regulation does not come into force until 20 days after publication in the Official Journal, which was after the end of the Transition Period. Consequently, it was necessary for the Amendments to be adopted in the UK. This corrects the position reflected in the 18 December 2020 UKEB Adoption status report. ↩
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The Amendments may be used by eligible entities for financial years beginning before 1 January 2023. ↩