UKEB Work Plan 18th July 2024

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19 July 2024
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18 July 2024

UKEB Work Plan—Endorsement Projects

IASB standards

Project Issued Last milestone achieved Status / Effective Date Jul 2024 Aug 2024 Sep 2024 Oct 2024 Nov 2024 Dec 2024
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: Disclosures 09/05/24 01/01/27

Narrow Scope Amendments

Project Issued Last milestone achieved Status / Effective Date Jul 2024 Aug 2024 Sep 2024 Oct 2024 Nov 2024 Dec 2024
Lack of Exchangeability 15/08/23 DECA published 05/02/24 01/01/25 Board: DPCS (noting)
Amendments to the Classification and Measurement of Financial Instruments 30/05/24 Amendment published 30/05/24 01/01/26 Board: DECA

UKEB Work Plan—Influencing Projects

Narrow Scope Amendments

Project Issued Last milestone achieved Status / Effective Date Jul 2024 Aug 2024 Sep 2024 Oct 2024 Nov 2024 Dec 2024
Business Combinations—Disclosures, Goodwill and Impairment ED 14/03/24 DCL published on 31/05/24 Comments on ED due 15 July 24 Board: FCL, FBS, draft DPCS Board: DPCS (noting)
Power Purchase Agreements ED 08/05/24 DCL published on 5/6/24 Comments on ED due 7 August 24 Board: FCL, FBS, draft DPCS Board: DPCS (noting)
Updating the Subsidiaries without Public Accountability: Disclosures Standard ED Expected 07/24 Board: DCL Board: FCL, FBS, draft DPCS Board: DPCS (noting)

UKEB Work Plan—Monitoring of IASB/ISSB projects

IASB Standard-setting projects

Project Issued Next Milestone Expected Date Last Milestone Notes
Dynamic Risk Management DP 17/04/14 ED H1 2025 –
Equity Method – ED September 2024 –
Rate-regulated Activities ED 28/01/21 IFRS Standard 2025 FCL: 07/21
Financial Instruments with Characteristics of Equity ED 29/11/23 Decide project direction July 2024 FCL: 4/24 ED feedback session took place at May 2024 IASB meeting.

IASB Maintenance

Project Issued Next Milestone Expected Date Last Milestone Notes
Annual Improvements ED 12/09/23 IFRS Standard July 2024 FCL: 12/23

IASB Research

Project Issued Next Milestone Expected Date Last Milestone Notes
Intangible Assets Review Research Q4 2024 Three UKEB research reports published. For more details, see the UKEB Website. IASB engagement with consultative groups ongoing.
Post-implementation Review of IFRS 15 Revenue from Contracts with Customers Feedback Statement September 2024 FCL: 10/23 1 The UKEB plans to start the formal endorsement project in early 2025 to assess both IFRS 19 and the final amendments resulting from the catch-up ED as a package for adoption.

UKEB Work Plan—Deferred projects

(As explained in the UKEB's Regulatory Strategy 2024/25)

Deferred IASB Standard-setting projects

Project Issued Next Milestone Expected Date Last Milestone Notes
Use of a Hyperinflationary Presentation Currency by a Non-hyperinflationary Entity (IAS 21) ED July 2024

18 July 2024 Agenda Paper 5: Appendix A

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