UKEB Work Plan 23rd March 2023
Appendix A: UKEB Work Plan—Endorsement Projects
23 March 2023
| Project | Issued | Last milestone achieved | Status / Effective Date | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Major | |||||||||
| Narrow-scope amendments | |||||||||
| Lease Liability in a Sale and Leaseback (Amendment to IFRS 16) | 22/09/22 | DECA Published 05/01/23 | 01/01/24 | Public consultation | Board: Discuss Feedback | Board: ECA Adoption package | Board: DPCS | ||
| Classification of Liabilities as Current or Non-Current (2020 Amendments to IAS 1) | 23/01/20 | DECA Published 9/03/23 | 01/01/24 | Public consultation | Public consultation | Public consultation | Public consultation | Board: Discuss Feedback | Board: ECA Adoption package |
| Non-Current Liabilities with Covenants (2022 Amendments to IAS 1) | 31/10/22 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
UKEB Work Plan—Active Influencing Projects
23 March 2023
| Project | Issued | Last milestone achieved | Status / Effective Date | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 |
|---|---|---|---|---|---|---|---|---|---|
| International Tax Reform—Pillar Two Model Rules (Proposed amendments to IAS 12) | 9/1/23 | Final Comment Letter issued (9/03) | IASB Exposure Draft (April 2023) | Board: Comment Letter (7/03) DPCS and Feedback Statement (23/03) | Board: DECA Public Consultation | Board: ECA Adoption package | |||
| 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.
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
UKEB Work Plan—Active Monitoring of IASB/ISSB projects
23 March 2023
| Project | Issued | IASB Status Next Milestone | Expected Date | Last Milestone | UKEB Status 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) | Project Summary 8/03/23 | – | – | FCL: 12/21 | Completed project |
| 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 |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
23 March 2023
| Project | Issued | IASB Status Next Milestone | Expected Date | Last Milestone | UKEB Status Expected Next Steps |
|---|---|---|---|---|---|
| Rate-regulated Activities | ED: 01/21 | IFRS Standard | – | FCL: 02/22 | Actively monitoring |
| IASB Maintenance | |||||
| Amendments to the Classification and Measurement of Financial Instruments | – | ED | March 2023 | – | Actively monitoring |
| Lack of Exchangeability (Amendments to IAS 21) | ED: 04/21 | Amendment | Q3 2023 | FCL: 08/21 | Actively monitoring |
| Supplier Finance Arrangements | ED: 11/21 | Amendment | May 2023 | FCL: 03/22 | Waiting Publication of Amendment |
| IASB Research and PIRs | |||||
| Business Combinations—Disclosures, Goodwill and Impairment | DP | ED | – | FCL: 01/21 | Actively monitoring |
| Business Combinations under Common Control | DP | Decide Project Direction | – | FCL: 08/21 | Actively monitoring |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
23 March 2023
| Project | Issued | IASB Status Next Milestone | Expected Date | Last Milestone | UKEB Status Expected Next Steps |
|---|---|---|---|---|---|
| Equity Method | – | Decide Project Direction | April 2023 | – | Actively monitoring |
| Extractive Activities | – | Decide Project Direction | Q3 2023 | – | Actively monitoring |
| Post-implementation Review of IFRS 9—Impairment | – | Rfl | May 2023 | – | Awaiting IASB Rfl |
| Post-implementation Review of IFRS 15 Revenue from Contracts with Customers | – | Rfl | Q2 2023 | – | Awaiting IASB RfI |
| ISSB projects | |||||
| ISSB EDs S1 and S2 | ED: 03/22 | IFRS Sustainability Disclosure Standards | Q2 2023 | FCL: 07/22 | Waiting Publication of Standards |
| ISSB Agenda Consultation | – | Rfl | May 2023 | – | Awaiting ISSB Rfl |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
UKEB Work Plan—Proactive Research Projects
23 March 2023
| Project | Start date | Last milestone achieved | Target Completion | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Qualitative Intangibles Report | 10/21 | Report approved | Q1 2023 | Publish Report | |||||
| Quantitative Intangibles Report | 10/22 | Research Underway | Q3 2023 | Board: Discuss Draft Report | |||||
| User Survey Report | 10/22 | Research Underway | Q1 2024 | Board: Discuss Project | Board: Discuss Project | ||||
| Climate-related risks - Assessment of current research Deliverable 1 | 3/23 | To commence | 4/23 | Board: Approve Project Initiation Plan | Board: Consider report |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
23 March 2023
| Project | Start date | Last milestone achieved | Target Completion | Mar 2023 | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Climate-related risks - Analysis of 2022 annual reports Deliverable 2 | 3/23 | To commence | 6/23 | Commence work | Board: Update on project deliverable | Board: Update on project deliverable | Board: Consider report |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
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]