UK: The International Accounting Standards (Delegation of Functions) (EU Exit) Regulations 2021

The International Accounting Standards (Delegation of Functions) (EU Exit) Regulations 2021 came into force on 22 May: see here or here (pdf). The accompanying explanatory memorandum is available here (pdf). The purpose of the Regulations is to delegate to a new body - the UK Accounting Standards Endorsement Board - the responsibility for the adoption of international accounting standards (this function was conferred on the Secretary of State by The International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 to replace the EU framework).