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2021 saw the inaugural year of the UK Endorsement Board (UKEB) establishing itself as the UK voice on IFRS. And in January it published its 2022/23 Regulatory Strategy for consultation which runs until the 1st March 2022.

The UKEB has been set up to influence, endorse and adopt new or amended international accounting standards issued by the International Accounting Standards Board (IASB) for use by UK companies.

The financial year 2022/23 will see the UKEB maintaining its focus on the aspects of the IASB agenda that are the most important to UK stakeholders. It will also aim to further establish the processes needed to reinforce its ability to achieve its strategic objectives and deliver on its statutory functions.

UKEB Chair, Pauline Wallace, said: "2021 was a momentous inaugural year for the UKEB with the recruitment of the secretariat and the appointment of the Board, culminating in the delegation of our statutory responsibilities in May. Since then we have achieved a significant amount , including the publication of our first major Draft Endorsement Criteria Assessment on IFRS 17 'Insurance Contracts', the development of a draft Due Process Handbook, which will be published for consultation shortly, and the establishment of our influencing and thought leadership strategies. There is still much to do, but we have put in place solid foundations that we can build on and we look forward to continuing to ensure that the UK is seen as a thought leader and key influencer in international financial reporting."

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