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Dear respondent,
 

This questionnaire asks for the views of users of IFRS financial statements on the recently issued Standard IFRS 18 Presentation and Disclosure in Financial Statements (the Standard).

IFRS 18 was issued by the International Accounting Standards Board (IASB) in April 2024 and provides general presentation and disclosure requirements to improve how information is communicated in the financial statements, with a focus on the income statement.

The information collected from this survey is intended to help the UK Endorsement Board (UKEB)* assess the impact of IFRS 18 on UK users of financial statements. This will form part of the work necessary to assess the Standard for UK adoption.  If adopted in the UK, IFRS 18 will apply to annual reporting periods beginning on or after 1 January 2027. 

More information on IFRS 18, including how to access the final Standard, as well as supporting material can be found here.

The questionnaire seeks users' views regarding:

  • The presentation and disclosure requirements in the Standard; and
  • Any likely costs and benefits associated with the new requirements in IFRS 18 as well as wider economic effects.

Your responses will make a valuable contribution to the UKEB’s understanding of users’ views on the implementation of IFRS 18 and will be used as input to the UKEB's decision on whether to adopt the Standard for use in the UK. 

Who should respond to this survey?
Investors, lenders, sell-side broker dealers, credit-rating agencies, analysts and other users of financial statements who are based in the UK and/or invest in/lend to/analyse UK companies. Some familiarity with IFRS 18 may help but is not required as the questionnaire contains explanatory text and provides links to education materials.
 

If you are not the best placed person in the organisation to respond or do not possess all the information you need, please circulate the questionnaire among relevant colleagues (this is why we also attached the Word version) and don’t hesitate to contact us if you need support in completing the survey.

How long will it take?
How long the questionnaire will take to complete will depend on familiarity with the standard. Respondents who have prior knowledge of the standard may skip the educational materials and complete the survey in approximately 20 minutes. However, if educational materials are needed to contextualise, the survey will take approximately 40 minutes to complete. The survey tool allows respondents to save and continue.

Deadline for completion of survey
The deadline for completion of the survey is 6 September 2024.

Data Usage**
The information collected from this survey is intended to help us assess the impact of IFRS 18 on users of financial statements if it were adopted for use in the UK. Responses will be used by the UKEB as evidence for the assessment of the endorsement and adoption of IFRS 18. Responses will be considered individually, kept confidential and anonymised for the purposes of the endorsement assessment.
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*The UK Endorsement Board (UKEB) is the UK standard setter for IFRS Accounting Standards. As part of its role, the UKEB endorses and adopts new or amended international accounting standards for use in the UK.

 

**By completing this survey, you accept that we will process your personal data in line with our Privacy Statement and Individual Rights (Data Privacy) Policy. We will securely store your personal data until the research period concludes. We may then anonymise your responses to enable us to use the responses for further research. We respect your trust and protect your privacy, and therefore will not sell or share this personal data with any third parties. Where consent is given, the Secretariat may use contact details provided to contact individual respondents to clarify aspects of their response or further investigate themes/topics. Individual responses will not be published. Your contact details will not be used for any other purposes.  If you have any questions or change your mind, please contact privacy@endorsement-board.uk.