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All you need on UK Accounting, Reporting & Corporate Governance
  • ITCG (IFRS Taxonomy Consultative Group) (mid blue) Image
  • New guide to IFRS Taxonomy common practice content

    25 Aug 2016

    The IFRS Taxonomy contains some content that reflects new common practice regarding disclosures entities commonly provide in practice when applying IFRSs. These disclosures are not explicitly referred to in the standards or the accompanying materials.

  • IASB (International Accounting Standards Board) (blue) Image
  • New Chair and Vice-Chair for the IASB's Islamic Finance Consultative Group

    25 Aug 2016

    The IASB has updated its website detailing the work of its Islamic Finance Consultative Group. As a result of the agenda consultation 2011, the IASB noted Islamic accounting as one of the possible issues for its agenda post 2011 and created a consultative group for Sharia'a-compliant instruments and transactions, which has now been renamed.

  • IASB speeches (blue) Image
  • Hans Hoogervorst discusses the IASB's future strategy at African conference

    24 Aug 2016

    At the Joint IFRS Foundation, PAFA, and ICPAK Conference in Nairobi, Kenya, IASB Chairman Hans Hoogervorst gave a speech titled ‘Latest developments and future focus'. He discussed (1) how Africa can use IFRS to achieve economic progress and (2) the IASB's new 'better communication' initiative.

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  • IAASB publishes Discussion Paper on challenges for Assurance Engagements

    19 Aug 2016

    The International Auditing and Assurance Standards Board (IAASB)’s Integrated Reporting Working Group, dedicated to exploring emerging forms of external reporting, has released a Discussion Paper, Supporting Credibility and Trust in Emerging Forms of External Reporting: Ten Key Challenges for Assurance Engagements

  • MB (Monitoring Board) (blue) Image
  • New member of the IFRS Foundation Monitoring Board

    19 Aug 2016

    The IFRS Foundation Monitoring Board (MB), responsible for the oversight of the IFRS Foundation, has published a press release announcing that the Ministry of Finance of the People’s Republic of China (China MOF) is now a member of the Monitoring Board.

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  • Accounting Roundup — August 2016 Image
  • Accounting Roundup — August 2016

    published 25 Aug 2016

    This accounting roundup, covering the period April 2016 through to July 2016, pulls together the headlines for all the latest developments in accounting, providing links to a wealth of further information and resources.

  • IFRS on point — July 2016  Image
  • IFRS on point — July 2016

    published 23 Aug 2016

    IFRS on Point, published at the end of each month, highlights critical IFRS-related financial reporting developments.

  • A practical user guide to the 2015 pension SORP Image
  • Pensions schemes annual report disclosures checklist — SORP 2015

    published 18 Aug 2016

    The Pensions Research Accounting Group (PRAG) published the revised 'Financial Reporting of Pension Schemes - A Statement of Recommended Practice 2015' ("the 2015 Pensions SORP") in November 2014. This was a complete update of the 2007 Pensions SORP to incorporate the content required to comply with UK Financial Reporting Standard (FRS) 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. The new reporting framework is effective for all pension schemes with periods commencing on or after 1 January 2015. Deloitte have prepared a detailed disclosure checklist that allows preparers of UK occupational pension scheme financial statements to determine whether they are fully compliant with the 2015 Pensions SORP.

  • Need to know — FRS 101 amendment on IFRS 15 disclosure exemptions & proposal on notifying shareholders Image
  • Need to know — FRS 101 amendment on IFRS 15 disclosure exemptions & proposal on notifying shareholders

    published 09 Aug 2016

    In July 2016, the Financial Reporting Council (FRC) made limited amendments to FRS 101 ‘Reduced Disclosure Framework’ and issued Financial Reporting Exposure Draft (FRED) 65 that proposes further amendments to remove the requirement for a qualifying entity to notify its shareholders in writing that it intends to take advantage of the disclosure exemptions in FRS 101. A similar consequential amendment is proposed for FRS 102. This 'Need to know' publication explains those changes.

  • Need to know — Alternative performance measures: A practical guide Image
  • Need to know — Alternative performance measures: A practical guide

    published 21 Jul 2016

    This edition explores the key messages from regulators, standard setters and investors about the use of APMs, with a particular focus on assisting compliance with ESMA’s Guidelines on Alternative Performance Measures. It also sets out what is considered to be best practice when presenting APMs and provides real-life examples of how entities are presenting APMs.

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