| Project |
Issued |
Last milestone achieved |
Status / Effective Date |
May 2023 |
Jun 2023 |
Jul 2023 |
Aug 2023 |
Sep 2023 |
Oct 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: 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 |
Board: Discuss Feedback |
|
Board: ECA Adoption package |
|
Board: DPCS |
| Non-Current Liabilities with Covenants (2022 Amendments to IAS 1) |
31/10/22 |
|
|
|
|
|
|
|
|
| Supplier Finance Arrangements |
Expected 05/23 |
|
Expected 01/01/24 |
Board: PIP |
Board: DECA |
|
Public consultation |
Public consultation |
Public consultation |
| Project |
Issued |
Last milestone achieved |
Status / Effective Date |
May 2023 |
Jun 2023 |
Jul 2023 |
Aug 2023 |
Sep 2023 |
Oct 2023 |
| Narrow-scope amendments |
|
|
|
|
|
|
|
|
|
| Amendments to the Classification and Measurement of Financial Instruments |
21 March 2023 |
ED |
Comments due 19/07/23 |
Board: DCL |
DCL comment period |
Board: FCL Feedback Statement |
|
Board: DPCS |
|
| Post-implementation reviews |
|
|
|
|
|
|
|
|
|
| Post-implementation Review of IFRS 9—Impairment |
|
Rfl expected May 2023 |
|
|
|
|
Board: DCL |
Board: FCL Feedback Statement |
Board: DPCS |
| ISSB Projects* |
|
|
|
|
|
|
|
|
|
| ISSB Consultation on Agenda Priorities |
4 May 2023 |
RFI |
Comments due 01/09/23 |
Board: PIP |
Board: DCL |
|
Board: FCL (rec) |
Board: Feedback Statement |
Board: DPCS |
- Per the 2022 UKEB Regulatory Strategy: These projects assess any overlaps with IASB Standards from the ISSB issued Exposure Drafts.
| Project |
Issued |
IFRS Status Next Milestone |
Expected Date |
Last Milestone |
UKEB Status Notes |
| IASB Standard-setting projects |
|
|
|
|
|
| Business Combinations—Disclosures, Goodwill and Impairment |
DP |
ED |
2024 |
FCL: 01/21 |
|
| Disclosure Initiative—Subsidiaries without Public Accountability |
ED: 03/21 |
IFRS Standard |
|
FCL: 02/22 |
|
| Dynamic Risk Management |
|
ED |
|
|
|
| Financial Instruments with Characteristics of Equity |
|
ED |
H2 2023 |
|
|
| Primary Financial Statements |
ED: 12/19 |
IFRS Standard |
|
FCL: 09/20 |
|
| Rate-regulated Activities |
ED: 01/21 |
IFRS Standard |
|
FCL: 07/21 |
|
| Project |
Issued |
IFRS Status Next Milestone |
Expected Date |
Last Milestone |
UKEB Status Notes |
| IASB Maintenance |
|
|
|
|
|
| Annual Improvements to IFRS Accounting Standards: IAS 7, IFRS 1; IFRS 7, IFRS 9; and IFRS 10; |
|
ED |
Q3 2023 |
|
|
| Climate-related Risks in Financial Statements |
|
Review Research |
Q4 2023 |
|
|
| International Tax Reform—Pillar Two Model Rules (Proposed Amendments to IAS 12) |
ED: 01/23 |
Amendment |
Second half of May 2023 |
FCL: 03/22 |
Awaiting Publication of Amendment |
| Lack of Exchangeability (Amendments to IAS 21) |
ED: 04/21 |
Amendment |
Jul 2023 |
FCL: 08/21 |
|
| Provisions—Targeted Improvements |
|
Decide Project Direction |
|
|
|
| Project |
Issued |
IFRS Status Next Milestone |
Expected Date |
Last Milestone |
UKEB Status Notes |
| IASB Research and PIRs |
|
|
|
|
|
| Business Combinations under Common Control |
DP |
Decide Project Direction |
|
FCL: 08/21 |
|
| Equity Method |
|
ED |
|
|
|
| Extractive Activities |
|
Decide Project Direction |
Jul 2023 |
|
|
| Post-implementation Review of IFRS 15 Revenue from Contracts with Customers |
|
Rfl |
Jun 2023 |
|
Awaiting IASB Rfl |
| ISSB projects |
|
|
|
|
|
| ISSB EDs S1 and S2 |
ED: 03/22 |
IFRS Sustainability Disclosure Standards |
Q2 2023 |
FCL: 07/22 |
Awaiting Publication of Standards |
| Project |
Start date |
Last milestone achieved |
Target Completion |
May 2023 |
Jun 2023 |
Jul 2023 |
Aug 2023 |
Sep 2023 |
Oct 2023 |
| Quantitative Intangibles Report |
10/22 |
Research Underway |
Q3 2023 |
|
Board: Discuss Revised PIP |
|
|
|
|
| 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: Approve report |
|
|
|
|
| Climate-related risks -Analysis of 2022 annual reports Deliverable 2 |
3/23 |
Research Underway |
6/23 |
Board: Update on project deliverable |
Board: Approve report |
|
|
|
|
| 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]