UK Endorsement Board
(asked on 15th November 2021) - View Source
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government when (1) the UK Endorsement Board, and (2) the UK Accounting Standards Endorsement Board Limited, commenced outreach activities on the endorsement of accounting standards.
Answered by
Lord Callanan
Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The UK Endorsement Board formally commenced outreach activities following the inaugural Board meeting on 26th March 2021.
Prior to the UK Endorsement Board being formed, the Secretary of Secretary of State for Business, Energy and Industrial Strategy (BEIS) held the powers to formally adopt accounting standards for use in the UK. During this period, the UK Endorsement Board Secretariat worked with the Financial Reporting Council (FRC) and BEIS to develop endorsement and adoption advice for consideration by the Secretary of State. This included outreach activities.
The UK Accounting Standards Endorsement Board Limited is a wholly-owned subsidiary of the FRC. It does not undertake any functions to which outreach activities are relevant.