UKEB adopts Lack of Exchangeability (Amendments to IAS 21)

The UKEB has today adopted Lack of Exchangeability (Amendments to IAS 21), issued by the IASB in August 2023. The Amendments clarify the requirements for assessing exchangeability, the exchange rate to use when there is a lack of exchangeability and the related disclosures. The Amendments are effective for annual reporting periods beginning on or after 1 January 2025, with early application permitted.

The text of the UK-adopted international accounting standard for the Amendments can be found on our website.

For more information on the UKEB’s approach to this project visit our website.

We would like to thank all stakeholders who contributed to this project.