UKEB Work Plan 27th April 2023
27 April 2023
UKEB Work Plan—Endorsement Projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Major | |||||||||
| – | |||||||||
| Narrow-scope amendments | |||||||||
| Lease Liability in a Sale and Leaseback (Amendments to IFRS 16) | 22/09/22 | DECA Published 05/01/23 | 01/01/24 | 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 | Board: Discuss Feedback | Board: ECA Adoption package | Board: DPCS | |
| 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]
27 April 2023
UKEB Work Plan—Active Influencing Projects
| Project | Issued | Last milestone achieved | Status / Effective Date | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Narrow-scope amendments | |||||||||
| Amendments to the Classification and Measurement of Financial Instruments | 21 March 2023 | ED | Comments due to IASB by 19/07/23 | Board: PIP | Board: DCL | DCL comment period | Board: FCL Feedback Statement | Board: DPCS | |
| Post-implementation reviews | |||||||||
| Post-implementation Review of IFRS 9—Impairment | Board: PIP | Board: DCL | Board: FCL Feedback Statement | ||||||
| ISSB Projects 1 | |||||||||
| There are currently no relevant ISSB due process documents open for stakeholder comment |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
27 April 2023
UKEB Work Plan—Active Monitoring of IASB/ISSB projects
IASB Standard-setting projects
| Project | Issued | IFRS Status - Next Milestone | IFRS Status - Expected Date | IFRS Status - Last Milestone | UKEB Status - Expected Next Steps |
|---|---|---|---|---|---|
| Business Combinations—Disclosures, Goodwill and Impairment | DP | ED | – | FCL: 01/21 | Actively monitoring |
| Disclosure Initiative—Subsidiaries without Public Accountability | ED: 03/21 | IFRS Standard | – | FCL: 02/22 | Actively monitoring |
| Dynamic Risk Management | – | ED | – | – | 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]
27 April 2023
IASB Maintenance
| Project | Issued | IFRS Status - Next Milestone | IFRS Status - Expected Date | IFRS Status - Last Milestone | UKEB Status - Expected Next Steps |
|---|---|---|---|---|---|
| Rate-regulated Activities | ED: 01/21 | IFRS Standard | – | FCL: 02/22 | Actively monitoring |
| Annual Improvements to IFRS Accounting Standards: IAS 7, IFRS 1; IFRS 7, IFRS 9; and, IFRS 10; | ED | ED | Q3 2023 | Actively monitoring | |
| Climate-related Risks in Financial Statements | Review Research | H2 2023 | Actively monitoring | ||
| International Tax Reform—Pillar Two Model Rules (Proposed Amendments to IAS 12) | ED: 01/23 | Amendment | May 2023 | FCL: 03/22 | Awaiting Publication of Amendment |
| Lack of Exchangeability (Amendments to IAS 21) | ED: 04/21 | Amendment | Q3 2023 | FCL: 08/21 | Actively monitoring |
| Provisions—Targeted Improvements | Decide Project Direction | – |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
27 April 2023
IASB Research and PIRs
| Project | Issued | IFRS Status - Next Milestone | IFRS Status - Expected Date | IFRS Status - Last Milestone | UKEB Status - Expected Next Steps |
|---|---|---|---|---|---|
| Supplier Finance Arrangements | ED: 11/21 | Amendment | May 2023 | FCL: 03/22 | Awaiting Publication of Amendment |
| Business Combinations under Common Control | DP | Decide Project Direction | – | FCL: 08/21 | Actively monitoring |
| Equity Method | – | Decide Project Direction | April 2023 | – | Actively monitoring |
| Extractive Activities | – | Decide Project Direction | Q3 2023 | – | Actively monitoring |
| Post-implementation Review of IFRS 15 Revenue from Contracts with Customers | – | Rfl | Jun 2023 | – | Awaiting IASB Rfl |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
27 April 2023
ISSB projects
| Project | Issued | IFRS Status - Next Milestone | IFRS Status - Expected Date | IFRS Status - Last Milestone | UKEB Status - Expected Next Steps |
|---|---|---|---|---|---|
| ISSB Agenda Consultation | – | Rfl | May 2023 | – | Awaiting ISSB Rfl |
| ISSB EDs S1 and S2 | ED: 03/22 | IFRS Sustainability Disclosure Standards | Jun 2023 | FCL: 07/22 | Awaiting Publication of Standards |
Dates are indicative only and subject to change. Any queries please contact us at [email protected]
27 April 2023
UKEB Work Plan—Proactive Research Projects
| Project | Start date | Last milestone achieved | Target Completion | Apr 2023 | May 2023 | Jun 2023 | Jul 2023 | Aug 2023 | Sep 2023 |
|---|---|---|---|---|---|---|---|---|---|
| Quantitative Intangibles Report | 10/22 | Research Underway | Q3 2023 | – | – | Board: Discuss Draft Report | Board: Approve Final Report | ||
| User Survey Report | 10/22 | Research Underway | Q1 2024 | – | – | Board: Discuss Project | |||
| Climate-related risks - Assessment of current research Deliverable 1 | 3/23 | Research Underway | 4/23 | Board: Consider report | |||||
| Climate-related risks -Analysis of 2022 annual reports Deliverable 2 | 3/23 | Research Underway | 6/23 | 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 |