UKEB Work Plan 23rd February 2024
23 February 2024
Endorsement Projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Feb 2024 | Mar 2024 | April 2024 | May 2024 | June 2024 | July 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Lack of Exchangeability | 15/08/23 | DECA published 05/02/24 | 01/01/25 | DECA Public consultation | DECA Public consultation | DECA Public consultation | Board: Update | Board: ECA Adoption package |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
23 February 2024
Influencing Projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Feb 2024 | Mar 2024 | April 2024 | May 2024 | June 2024 | July 2024 |
|---|---|---|---|---|---|---|---|---|---|
| IASB standard-setting projects | |||||||||
| Financial Instruments with Characteristics of Equity | ED 29/11/2023 | DCL published 07/02/24 | Comments on ED due 29 March 2024 | DCL Public consultation | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) | |||
| Narrow Scope Amendments | |||||||||
| IFRIC Tentative Agenda Decision | |||||||||
| IFRS Interpretations Committee- Tentative Agenda Decision: Climate-related Commitments (IAS 37) | TAD 7/12/23 | FCL published 05/02/24 | IFRS IC expected to discuss feedback received in March 2024 | Board: DPCS |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
23 February 2024
Monitoring of IASB/ISSB projects
| Project | IFRS Status Issued | IFRS Status Next Milestone | IFRS Status Expected Date | IFRS Status Last Milestone | UKEB Status Notes |
|---|---|---|---|---|---|
| IASB Standard-setting projects | |||||
| Business Combinations— Disclosures, Goodwill and Impairment | DP 19/03/20 | ED | March 2024 | FCL: 01/21 | Project Initiation Plan proposed for March 2024. |
| Disclosure Initiative— Subsidiaries without Public Accountability: Disclosures | ED 26/07/21 | IFRS Standard | May 2024 | FCL: 02/22 | |
| Dynamic Risk Management | DP 17/04/14 | ED | H1 2025 | - | |
| Equity Method | - | ED | H2 2024 | - | |
| Primary Financial Statements | ED 17/12/19 | IFRS Standard | April 2024 | FCL: 09/20 | Project Initiation Plan proposed for February 2024. |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
23 February 2024
| Project | IFRS Status Issued | IFRS Status Next Milestone | IFRS Status Expected Date | IFRS Status Last Milestone | UKEB Status Notes |
|---|---|---|---|---|---|
| Rate-regulated Activities | ED 28/01/21 | IFRS Standard | 2025 | FCL: 07/21 | |
| IASB Maintenance | |||||
| Climate-related and Other Uncertainties in the Financial Statements | Decide Project Direction | April 2024 | |||
| Provisions—Targeted Improvements | ED | H2 2024 | |||
| Amendments to the Classification and Measurement of Financial Instruments | Final Amendment | Q2 2024 | |||
| Power Purchase Agreements | ED | May 2024 | Education session proposed for March 2024 and PIP proposed for April 2024. |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
23 February 2024
| Project | IFRS Status Issued | IFRS Status Next Milestone | IFRS Status Expected Date | IFRS Status Last Milestone | UKEB Status Notes |
|---|---|---|---|---|---|
| Updating the Subsidiaries without Public Accountability: Disclosures Standard | ED | Q3 2024 | After the Subsidiaries without Public Accountability: Disclosures Standard is issued in Q2 2024, the IASB will publish an ED of proposed amendments to that Standard for new or amended disclosure requirements added or amended in other IFRS Accounting Standards after 28 February 2021. |
Deferred projects
(As explained in the UKEB's (Draft) Regulatory Strategy 2024/25)
23 February 2024
| Project | IFRS Status Issued | IFRS Status Next Milestone | IFRS Status Expected Date | IFRS Status Last Milestone | UKEB Status Notes |
|---|---|---|---|---|---|
| Deferred IASB Standard-setting projects | |||||
| Use of a Hyperinflationary Presentation Currency by a Non-hyperinflationary Entity (IAS 21) | ED | Q3 2024 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
23 February 2024
Proactive Research Projects
| Project | Start date | Last milestone achieved | Target Completion | Feb 2024 | Mar 2024 | April 2024 | May 2024 | June 2024 | July 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Quantitative Intangibles Report | 10/22 | Research Underway | Q1 2024 | Board: Draft Report | Board: Final Report | ||||
| User Survey Report | 10/22 | Research Underway | Q1 2024 | Board: Final Report |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
23 February 2024 Agenda Paper 5: Appendix A
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 |
| RFI | Request for Information |
| TAD | Tentative Agenda Decision |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]