Response 5 - PwC

The UK Endorsement Board 1 Victoria Street London SW1H 0ET

7 June 2023

Dear Sir/Madam

We are responding on behalf of PricewaterhouseCoopers LLP to your invitation to comment on the Draft Endorsement Criteria Assessment (DECA) of IAS 1 Narrow-scope Amendments 2020 and 2022 in respect of the Classification of Liabilities as Current or Non-current and Non-current Liabilities with Covenants.

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 IAS 1 Narrow-Scope Amendments 2020 and 2022, as proposed in the DECA. Our responses to questions 1-9 in the Invitation to Comment is 'yes' and in response to question 10 we have no other comments to add.

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.