UKEB Work Plan 14th December 2022
14 December 2022
| Project | Issued | Last milestone achieved | Status / Effective Date | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Major | |||||||||
| - | |||||||||
| Narrow-scope amendments | |||||||||
| Definition of Accounting Estimates (Amendments to IAS 8) | 12/02/21 | 01/01/23 | Board: DPCS | ||||||
| Disclosure of Accounting Policies (Amendments to IAS 1 [and IFRS Practice Statement 2]) | 12/02/21 | 01/01/23 | Board: DPCS | ||||||
| Deferred Tax Related to Assets and Liabilities Arising from a Single Transaction (Amendments to IAS 12) | 07/05/21 | 01/01/23 | Board: DPCS | ||||||
| Lease Liability in a Sale and Leaseback (Amendment to IFRS 16) | 22/09/22 | 01/01/24 | 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 | Public consultation | ||
| Non-Current Liabilities with Covenants (2022 Amendments to IAS 1) | 31/10/22 |
UKEB Work Plan—Active Influencing Projects
14 December 2022
| Project | Issued | Last milestone achieved | Status / Effective Date | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 |
|---|---|---|---|---|---|---|---|---|---|
| IASB Projects | |||||||||
| International Tax Reform—Pillar Two Model Rules (Proposed amendments to IAS 12) | ED expected 01/23 | ||||||||
| 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
14 December 2022
| Project | Issued | Next Milestone | Expected Date | Last Milestone | Expected Next Steps |
|---|---|---|---|---|---|
| IASB Standard-setting projects | |||||
| Disclosure Initiative—Subsidiaries without Public Accountability | ED: 03/21 | IFRS Standard | FCL: 02/22 | Actively monitoring | |
| ED Disclosure Requirements in IFRS Standards—A Pilot Approach (IFRS 13 & IAS 19) | ED: 07/21 | Project Summary | 02/2023 | FCL: 12/21 | Actively monitoring |
| Dynamic Risk Management | - | ED | - | Actively monitoring | |
| Financial Instruments with Characteristics of Equity | - | ED | H2 2023 | - | Actively monitoring |
| Primary Financial Statements | ED: 12/19 | IFRS Standard | FCL: 09/20 | Actively monitoring | |
| IASB Maintenance | |||||
| Amendments to the Classification and Measurement of Financial Instruments | - | ED | Q2 2023 | - | 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 | Amendment | H1 2023 | FCL: 03/22 | Actively monitoring |
| IASB Research and PIRs | |||||
| DP Business Combinations under Common Control | DP | Decide Project Direction | FCL: 08/21 | Actively monitoring | |
| Equity Method | - | Decide Project Direction | - | Actively monitoring | |
| Extractive Activities | - | Decide Project Direction | Q2 2023 | - | Actively monitoring |
| Goodwill and Impairment | DP: 03/20 | Decide Project Direction | Nov 2022 | FCL: 01/21 | 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 RfI |
| Post-implementation Review of IFRS 15 Revenue from Contracts with Customers | - | Rfl | H1 2023 | - | Awaiting IASB RfI |
| ISSB projects | |||||
| ISSB EDs | ED: 03/22 | IFRS Sustainability Disclosure Standards | FCL: 07/22 | Actively monitoring | |
| ISSB Agenda Consultation | - | Rfl | H1 2023 | - | Awaiting ISSB Rfl |
UKEB Work Plan—Research for Influencing Projects
14 December 2022
| Project | Started | Last milestone achieved | Target Completion | Dec 2022 | Jan 2023 | Feb 2023 | Mar 2023 | Apr 2023 | May 2023 |
|---|---|---|---|---|---|---|---|---|---|
| UKEB Pro-active Research: Qualitative Intangibles Report | 10/21 | Research Underway | Q1 2023 | 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 | Board: Discuss Draft Report | |
| UKEB Pro-active Research: User Survey Report | 10/22 | Research Underway | Q1 2024 | Board: Discuss Project | Board: Discuss Project | Board: Discuss Project |
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 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]