UKEB Work Plan 17th November 2022
UKEB Work Plan—Endorsement Projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Major | |||||||||
| - | |||||||||
| Narrow-scope amendments | |||||||||
| Definition of Accounting Estimates (Amendments to IAS 8) | 12/02/21 | 01/01/23 | Board: Adoption decision | ||||||
| Disclosure of Accounting Policies (Amendments to IAS 1 [and IFRS Practice Statement 2]) | 12/02/21 | 01/01/23 | 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 | Board: Adoption decision | ||||||
| Lease Liability in a Sale and Leaseback (Amendment to IFRS 16) | 22/09/22 | 01/01/24 | Board: PIP | Board: DECA | Public consultation | Public consultation | Public consultation | Board: Discuss Feedback | |
| Classification of Liabilities as Current or Non-Current (2020 Amendments to IAS 1) | 23/01/20 | 01/01/24 | Board: PIP | Board: DECA | Public consultation | Public consultation | |||
| Non-Current Liabilities with Covenants (2022 Amendments to IAS 1) | 31/10/22 |
1An IFRS Practice Statement is non-mandatory guidance. The adoption process applies only to the mandatory sections of standards that, if adopted, will become "UK-adopted international accounting standards".
UKEB Work Plan—Active Influencing Projects
IASB Projects
There are currently no relevant IASB due process documents open for stakeholder comment.
ISSB Projects*
There are currently no relevant ISSB due process documents open for stakeholder comment.
*Per the 2022 UKEB Regulatory Strategy: These projects assess any overlaps with IASB Standards from the ISSB issued Exposure Drafts.
UKEB Work Plan—Active Monitoring of IASB/ISSB projects
| Project | Issued | IASB Status Next Milestone | Expected Date | Last Milestone | UKEB Status Expected Next Steps |
|---|---|---|---|---|---|
| Primary Financial Statements | ED: 12/19 | IFRS Standard | - | FCL: 09/20 | Actively monitoring |
| Goodwill and Impairment | DP: 03/20 | Decide Project Direction | Nov 2022 | FCL: 01/21 | Actively monitoring |
| Rate-regulated Activities | ED: 01/21 | IFRS Standard | - | FCL: 02/22 | Actively monitoring |
| Lack of Exchangeability (Amendments to IAS 21) | ED: 04/21 | Decide Project Direction | - | FCL: 08/21 | Actively monitoring |
| Supplier Finance Arrangements | ED: 11/21 | Decide Project Direction | Nov 2022 | FCL: 03/22 | Actively monitoring |
| Disclosure Initiative— Subsidiaries without Public Accountability | ED: 03/21 | IFRS Standard | - | FCL: 02/22 | Actively monitoring |
| Dynamic Risk Management | ED | - | - | Actively monitoring | |
| Equity Method | Decide Project Direction | - | - | Actively monitoring | |
| Extractive Activities | Decide Project Direction | Q2 2023 | - | Actively monitoring | |
| Amendments to the Classification and Measurement of Financial Instruments | ED | H1 2023 | - | Actively monitoring | |
| Financial Instruments with Characteristics of Equity | ED | - | - | Actively monitoring | |
| Post-implementation Review of IFRS 9—Classification and Measurement | Rfl: 09/21 | Feedback Statement | Dec 2022 | FCL: 01/22 | Actively monitoring |
| Post-implementation Review of IFRS 9 - Impairment | - | Rfl | H1 2023 | - | Awaiting IASB Rfl |
| Post-implementation Review of IFRS 15 Revenue from Contracts with Customers | - | Rfl | H1 2023 | - | Awaiting IASB Rfl |
| ISSB EDs | IFRS Sustainability Disclosure Standard | Actively monitoring | |||
| ISSB Agenda Consultation | Rfl | H1 2023 | Awaiting ISSB Rfl |
UKEB Work Plan—Research for Influencing Projects
| Project | Started | Last milestone achieved | Target Completion | Nov 2022 | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 |
|---|---|---|---|---|---|---|---|---|---|
| UKEB Pro-active Research: Qualitative Intangibles Report | 10/21 | Research Underway | Q1 2023 | Board: Discuss Draft Report | Board: Discuss Draft Report | Board: Approve Research Report for publication | |||
| UKEB Pro-active Research: Quantitative Intangibles Report | 10/22 | Research Underway | Q3 2023 | Board: Discuss Project | Board: Discuss Project | Board: Discuss Project | Board: Discuss Project | ||
| UKEB Pro-active Research: User Survey Report | 10/22 | Research Underway | Q1 2024 | Board: Discuss Project | Board: Discuss Project |
UKEB Work Plan—Completed Influencing Projects
| Project | Comments | Last milestone achieved |
|---|---|---|
| ED Disclosure Requirements in IFRS Standards—A Pilot Approach (IFRS 13 & IAS 19) | IASB: Project Summary Q1 2023 | Submitted comment letter 12/21 |
| DP Business Combinations under Common Control | IASB: Decide project direction | Submitted comment letter 08/21 |
| 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
| Term | Description |
|---|---|
| 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 |