In relation to accounts for financial years beginning on or after 11 pm on 31 December 2020, international accounting standards which are adopted for use within the UK by the UK Endorsement Board by virtue of Chapter 2 or 3 of Part 2 of the International Accounting Standards and European Public Limited-Liability Company (Amendment etc.) (EU Exit) Regulations 2019 (SI 2019/685) (section 474(1), Companies Act 2006).

For financial years beginning on or after 11 pm on 31 December 2020, the group accounts of a parent company whose securities are, on its balance sheet date, admitted to trading on a UK regulated market, must be prepared in accordance with UK-adopted international accounting standards (section 403, Companies Act 2006).

For further information, see Practice notes, Accounting standards used in the UK and Group accounts.