Response 3 - PwC

The UK Endorsement Board UKEB 6th Floor 10 South Colonnade London E14 4PU

1 May 2024

Dear Sir/Madam

UK Draft Endorsement Criteria Assessment (DECA) of Lack of Exchangeability: Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates

We are responding on behalf of PricewaterhouseCoopers LLP to your invitation to comment on the Draft Endorsement Criteria Assessment (DECA) of Lack of Exchangeability: Amendments to IAS 21.

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 Amendments to IAS 21 on Lack of Exchangeability, as proposed in the DECA. Our responses to the questions in the Invitation to Comment are 'yes'.

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.