Standards
For financial years beginning on or after 1 January 2021, UK-registered listed companies are required to use UK-adopted international accounting standards when preparing consolidated financial statements.
This is required by Statutory Instrument 2019/685 International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019.
UK-adopted international accounting standards are comprised of:
1. European Union adopted international accounting standards at the end of the Transition Period (31 December 2020).
2. international accounting standards adopted by the Secretary of State for the Department of Business, Energy and Industrial Strategy (1 January to 21 May 2021).
3. international accounting standards adopted by the UKEB after delegation of adoption powers (from 22 May 2021).
'International accounting standards' means: International Accounting Standards (IAS), International Financial Reporting Standards (IFRS) and related Interpretations (SIC-IFRIC interpretations); subsequent amendments to those standards and related interpretations, future standards and related interpretations issued or adopted by the International Accounting Standards Board (IASB).
In this Section
UK-Adopted International Accounting Standards (by Standard)
Separate document for each standard.
UK-Adopted International Accounting Standards (Consolidated)
All standards combined in one document.
UK Adoptions Summary
UK-adopted international accounting standards summarised by the year in which the standard was adopted for use in the UK.
Adoption Status Report
A status update on endorsement projects in progress and a summary of UK-adopted international accounting standards, summarised by the year in which they were adopted.