UKEB seeks stakeholder views on IASB's standard: IFRS 18 Presentation and Disclosure in Financial Statements
News types: Codes and Standards Announcements
Published: 2 August 2024
Issued on behalf of the UKEB: IFRS 18 UKEB webinar recording and surveys; UKEB welcomes the IASB’s publication of its Exposure Draft (ED) Climate-related and Other Uncertainties in the Financial Statements.
UKEB Webinar and Surveys: IFRS 18 Presentation and Disclosure in Financial Statements
The recording of the UKEB Webinar on IFRS 18 Presentation and Disclosure in Financial Statements is now available to view. This event featured a presentation by IASB Member Nick Anderson on the main requirements of IFRS 18 and a discussion of the key issues by a panel of preparers and a user of accounts. The UKEB also shared the timeline and planned activities for its endorsement work of IFRS 18.
As part of UKEB’s endorsement and adoption work, it is now seeking UK stakeholder views on the IASB’s standard. To aid its endorsement work, the UKEB has launched surveys for UK users of accounts and preparers to gather their views on IFRS 18. The surveys take around 20–40 minutes to complete (depending on stakeholders’ familiarity with IFRS 18). Stakeholder comments are welcome until 6 September 2024. Click to participate in our user and preparer surveys. If you have any questions regarding the surveys feel free to contact us at [email protected].
For further information on IFRS 18, see the UKEB project page and the IASB website.
IASB Exposure Draft Climate-related and Other Uncertainties in the Financial Statements - Proposed Illustrative Examples
The UKEB welcomes the IASB’s publication of its Exposure Draft (ED) Climate-related and Other Uncertainties in the Financial Statements clarifying how companies report such matters in their financial statements by means of proposed illustrative examples. The UKEB will be seeking stakeholder feedback in due course. For further information, see the UKEB project page.
The ED contains eight illustrative examples which demonstrate how an entity could apply the requirements in IFRS Accounting Standards to these areas in its financial statements. The IASB has sought to reinforce compatibility with IFRS Sustainability Disclosure Standards when developing the examples. The IASB will consider all comments received in writing by 28 November 2024.