Response 6 - PwC

The UK Endorsement Board 8th floor 125 London Wall Barbican London EC2Y 5AS

3 October 2022

Dear Sir/Madam

UK Draft Endorsement Criteria Assessment (DECA) on narrow-scope amendments to international accounting standards (IAS 1, IAS 8 and IAS 12)

We are responding on behalf of PricewaterhouseCoopers LLP to your invitation to comment on the Draft Endorsement Criteria Assessment (DECA) on three narrow-scope amendments to international accounting standards (IAS 1, IAS 8 and IAS 12).

We have long been supporters of global financial reporting standards and believe that the use of IFRS as a common language has contributed to the strength of the capital markets. We are of the view that IFRS Standards are helpful for listed companies in the UK as they improve quality, comparability and reliability of financial information. Regional modifications to IFRS Standards may result in a lack of global comparability and could increase confusion to users of financial statements. We continue to support globally consistent standards and encourage endorsement of international accounting standards, without any regional modifications and carve-outs where possible.

Accordingly, we support the adoption of the three narrow scope amendments to IAS 1, IAS 8 and IAS 12 by the UKEB, as proposed in the DECA.

If you have any questions in relation to this letter please do not hesitate to contact Peter Hogarth at [email protected] or on 07770 917 593.

Yours faithfully

PricewaterhouseCoopers LLP, 1 Embankment Place, London WC2N 6RH T: +44 (0) 20 7583 5000, F: +44 (0) 20 7822 4652, www.pwc.co.uk

PricewaterhouseCoopers LLP is a limited liability partnership registered in England with registered number OC303525. The registered office of PricewaterhouseCoopers LLP is 1 Embankment Place, London WC2N 6RH. PricewaterhouseCoopers LLP is authorised and regulated by the Financial Conduct Authority for designated investment business.