UK Endorsement Board adopts three narrow-scope amendments

The UKEB adopted three narrow-scope amendments on 30 November 2022, which were published by the IASB in 2021 (effective date: 1 January 2023) as follows:

• Disclosure of Accounting Policies (Amendments to IAS 1 Presentation of Financial Statements and to IFRS Practice Statement 2 Making Materiality Judgements).
• Definition of Accounting Estimates (Amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors).
• Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Amendments to IAS 12 Income Taxes).

These amendments are effective for annual periods beginning on or after 1 January 2023, with early application permitted.

The UK-adopted international accounting standard text for these amendments can be found here.

For more information on the UK Endorsement Board’s approach to this project visit our website.

We would like to thank all stakeholders who contributed to this project.