UKEB issues draft comment letters on IASB exposure drafts
News types: Generic Announcement
Published: 27 September 2024
Issued on behalf of the UKEB. The UK Endorsement Board (UKEB) has issued draft comment letters on two IASB exposure drafts - one on climate-related risks and uncertainties, and another on amendments to IFRS 19. It has also published a Draft Endorsement Criteria Assessment on amendments to financial instrument classification and measurement, inviting stakeholder feedback on all three documents.
Draft Comment Letter: IASB Exposure Draft — Climate-related risks and Other Uncertainties in the Financial Statements
The UKEB has issued a Draft Comment Letter (DCL) for public consultation in response to the IASB’s Exposure Draft on Climate-related risks and Other Uncertainties in the Financial Statements.
The UKEB supports the IASB’s work on this project, while encouraging the IASB to consider whether further standard setting may be required. The UKEB also proposes further enhancements for the IASB to consider.
Stakeholder views on the UKEB’s DCL are welcome. Stakeholders are invited to provide feedback either via the Invitation to Comment form or by email to [email protected]. Comments are welcome until 11 November 2024.
Draft Comment Letter: IASB Exposure Draft — Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures
The UKEB has issued a Draft Comment Letter (DCL) for public consultation in response to the IASB’s Exposure Draft on the Amendments to IFRS 19 Subsidiaries without Public Accountability: Disclosures.
The UKEB is broadly supportive of the proposals and identifies a few minor enhancements.
Stakeholders are invited to provide feedback on the UKEB’s DCL either via the Invitation to Comment form or by email to [email protected]. Comments are welcome until 11 November 2024.
For further details on this project and the Exposure Draft, see the UKEB project page and the IASB website.
Call for Comments: Draft Endorsement Criteria Assessment on the Amendments to the Classification and Measurement of Financial Instruments
The UKEB has today published a Draft Endorsement Criteria Assessment (DECA) on the potential use in the UK of the IASB’s 'Amendments to the Classification and Measurement of Financial Instruments'.
In May 2024 the IASB published the Amendments to IFRS 9 and IFRS 7 - 'Amendments to the Classification and Measurement of Financial Instruments'. The amendments aim to provide further clarification and requirements for:
- The recognition and derecognition criteria for financial assets and liabilities.
- The classification requirements for financial assets, particularly those containing contingent features (such as ESG-linked targets), non-recourse features or contractually linked instruments.
- Disclosures related to the amendments to the classification requirements, and also for investments in equity instruments designated at fair value through other comprehensive income.
The Amendments are effective for annual reporting periods beginning on or after 1 January 2026, with early application permitted.
The UKEB invites stakeholders’ views on the DECA conclusions regarding potential UK adoption of the Amendments.
Stakeholders are invited to provide feedback either via the Invitation to Comment form or by email to [email protected]. Comments are welcome until 10 January 2025.
Visit our website for more information on the UKEB’s approach to this project.
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