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UK Endorsement Board

Now that the UK has left the EU and the transition period has come to an end, the endorsement of new and amended IFRSs for use in the UK will be the responsibility of a new body, the UK Endorsement Board (UKEB). UKEB will also take an active role in the future development of IFRS. This webpage provides an outline of its activities and signposts where you can find more information.

This Know-How has been created by the Financial Reporting Faculty


Company law recognises two financial reporting frameworks – IFRS and UK GAAP. 

Prior to the UK leaving the EU and before the end of the transition period, IFRS (in the context of company law) meant international standards and interpretations that had been endorsed by the EU.

Read more on EU endorsement of IFRS.

From 1 January 2021, IFRS (in the context of company law) will mean international standards and interpretations that have been endorsed by the UK. 
UKEB is the body responsible for the endorsement process.

Read more on which IFRSs have been endorsed for use in the UK and how they apply to different accounting periods UK endorsement of IFRS.

The endorsement process

To be endorsed and adopted for use within the UK, a new or amended IFRS must meet the endorsement criteria as set out in EU Exit Regulations 2019.

In summary, the criteria are as follows:

  • Standard is not contrary to the principle that the accounts must give a true and fair view.
  • Use of the standard is likely to be conducive to the long term public good in the UK.
  • Standard meets the criteria of understandability, relevance, reliability and comparability.

The EU Exit Regulations also require consultation with those persons considered to be representative of those with an interest in the quality and availability of accounts, including users and preparers of accounts.

You can read more about endorsement projects and endorsement criteria here.

Influencing the development of IFRS

In addition to its responsibility for endorsing standards and amendments issued by the International Accounting Standards Board (IASB) for use in the UK, UKEB will play an active role in the development of IFRS. It outlines the methods of influencing as follows:

  • Contributing to the IASB’s research agenda.
  • Responding to the IASB’s due process documents.
  • Seeking views from UK stakeholders on emerging issues.
  • Engaging with other national standard setters.
  • Outreach activities on current projects.

You can read more about UKEB’s influencing projects here.

Further resources


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