Response 1 - Aviva

Deadline for completion of this Invitation to Comment: Close of business, Monday 20 November 2023

Please submit to: [email protected]

Introduction

The objective of this Invitation to Comment is to obtain input from stakeholders on the UKEB's Draft Comment Letter on the Exposure Draft (ED) Annual Improvements to IFRS Accounting Standards –Volume 11, published by the International Accounting Standards Board (IASB) on 12 September 2023. The IASB's comment period ends on 11 December 2023.

UK endorsement and adoption process

The UK Endorsement Board (UKEB) is responsible for endorsement and adoption of IFRS for use in the UK and therefore is the UK's National Standard Setter for IFRS. The UKEB also leads the UK's engagement with the IFRS Foundation (Foundation) on the development of new standards, amendments and interpretations. This letter is intended to contribute to the IASB's due process. The views expressed by the UKEB in this letter are separate from, and will not necessarily affect the conclusions in, any endorsement and adoption assessment on new or amended International Accounting Standards undertaken by the UKEB.

Who should respond to this Invitation to Comment?

Stakeholders with an interest in the quality of accounts prepared in accordance with international accounting standards.

How to respond to this Invitation to Comment

Please download this document, answer any questions on which you would like to provide views, and return it together with the ‘Your Details' form to [email protected] by close of business on Monday 20 November 2023.

Brief responses providing views on individual questions are welcome, as well as comprehensive responses to all questions.

Privacy and other policies

The data collected through responses to this document will be stored and processed by the UKEB. By submitting this document, you consent to the UKEB processing your data for the purposes of influencing the development of and adopting IFRS for use in the UK. For further information, please see our Privacy Statements and Notices and other Policies (e.g. Consultation Responses Policy and Data Protection Policy)¹.

The UKEB's policy is to publish on its website all responses to formal consultations issued by the UKEB unless the respondent explicitly requests otherwise. A standard confidentiality statement in an e-mail message will not be regarded as a request for non-disclosure. If you do not wish your signature to be published, please provide the UKEB with an unsigned version of your submission. The UKEB prefers to publish responses that do not include a personal signature. Other than the name of the organisation/individual responding, information contained in the “Your Details” document will not be published. The UKEB does not edit personal information (such as telephone numbers, postal or e-mail addresses) from any other response document submitted; therefore, only information that you wish to be published should be submitted in such responses.

Question

1Our preliminary desk-based research and outreach have not identified any significant issues or concerns with the proposed amendments. Our draft comment letter supports the proposed amendments, concluding that they each improve the consistency and understandability of the relevant IFRS Standard or accompanying non-mandatory material.

Question One

2Do you agree with our conclusion for each amendment?

3If not, please explain which of our conclusions you disagree with and why?

We are supportive of the proposed amendments to the IFRS standards.

Thank you for completing this Invitation to Comment

Please submit this document by close of business on Monday 20 November 2023 to: [email protected]