UKEB Work Plan 24th May 2024
UKEB Work Plan—Endorsement Projects
24 May 2024
| Project | Issued | Last milestone achieved | Status / Effective Date | May 2024 | Jun 2024 | Jul 2024 | Aug 2024 | Sep 2024 | Oct 2024 |
|---|---|---|---|---|---|---|---|---|---|
| IASB standards | |||||||||
| IFRS 18 Presentation and Disclosure in Financial Statements | 09/04/24 | PIP published 03/04/24 | 01/01/27 | Board: Education session | |||||
| IFRS 19 Subsidiaries without Public Accountability: Disclosures1 | 09/05/24 |
24 May 2024
| Project | Issued | Last milestone achieved | Status / Effective Date | May 2024 | Jun 2024 | Jul 2024 | Aug 2024 | Sep 2024 | Oct 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Narrow Scope Amendments | |||||||||
| Lack of Exchangeability | 15/08/23 | DECA published 05/02/24 | 01/01/25 | Board: ECA Adoption package | Board: DPCS (noting) |
UKEB Work Plan—Influencing Projects
24 May 2024
| Project | Issued | Last milestone achieved | Status / Effective Date | May 2024 | Jun 2024 | Jul 2024 | Aug 2024 | Sep 2024 | Oct 2024 |
|---|---|---|---|---|---|---|---|---|---|
| Narrow Scope Amendments | |||||||||
| Business Combinations— Disclosures, Goodwill and Impairment | ED 14/03/24 | PIP published on 28/03/24 | Comments on ED due 15 July 24 | Board: DCL | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) | |||
| Power Purchase Agreements | ED 08/05/24 | PIP published on 30/04/24 | Comments on ED due 7 August 24 | Board: DCL | Board: FCL, FBS, draft DPCS | Board: DPCS (noting) |
UKEB Work Plan—Monitoring of IASB/ISSB projects
24 May 2024
| Project | Issued | IFRS Status Next Milestone | IFRS Status Expected Date | IFRS Status Last Milestone | UKEB Status Notes |
|---|---|---|---|---|---|
| IASB Standard-setting projects | |||||
| Dynamic Risk Management | DP 17/04/14 | ED | H1 2025 | – | |
| Equity Method | - | ED | Q3 2024 | – | |
| Rate-regulated Activities | ED 28/01/21 | IFRS Standard | 2025 | FCL: 07/21 | |
| Financial Instruments with Characteristics of Equity | ED 29/11/23 | ED Feedback | May 2024 | FCL: 4/24 | |
| IASB Maintenance | |||||
| Annual Improvements | ED 12/09/23 | IFRS Standard | July 2024 | FCL: 12/23 |
24 May 2024
| Project | Issued | IFRS Status Next Milestone | IFRS Status Expected Date | IFRS Status Last Milestone | UKEB Status Notes |
|---|---|---|---|---|---|
| Climate-related and Other Uncertainties in the Financial Statements | ED | July 2024 | |||
| Provisions—Targeted Improvements | ED | H2 2024 | |||
| Amendments to the Classification and Measurement of Financial Instruments | Final Amendment | May 2024 | |||
| Updating the Subsidiaries without Public Accountability: Disclosures Standard | ED | July 2024 | The IASB is expected to publish a ‘catch-up’ ED of proposed amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures, setting out new or amended disclosure requirements added or amended in other IFRS Accounting Standards after 28 February 2021. | ||
| IASB Research | |||||
| Intangible Assets | Review Research | Q4 2024 | Three UKEB research reports published. For more details, see the UKEB Website. |
24 May 2024
| Project | Issued | IFRS Status Next Milestone | IFRS Status Expected Date | IFRS Status Last Milestone | UKEB Status Notes |
|---|---|---|---|---|---|
| Post-implementation Review of IFRS 15 Revenue from Contracts with Customers | Feedback Statement | Q3 2024 | FCL: 10/23 | ||
| Post-implementation Review of IFRS 9—Impairment | Feedback Statement | July 2024 | FCL: 09/23 |
UKEB Work Plan—Deferred projects
(As explained in the UKEB's Regulatory Strategy 2024/25)
24 May 2024
| Project | 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 | July 2024 |
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]