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Beyond compliance – Promoting excellence in financial reporting
  • IFRS - IASB Image
  • IASB launches IFRS 17 implementation support page

    May 23, 2017

    On May 23, 2017, after the issuance of IFRS 17 "Insurance Contracts" on May 18, the International Accounting Standards Board (IASB) has set up an implementation support page for IFRS 17.

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  • AASB Operating Plan – 2017-2018

    May 19, 2017

    On May 19, 2017, the Auditing and Assurance Standards Board (AASB) released its Operating Plan where it sets out its objectives and planned activities along with other initiatives to be undertaken in 2017-2018.

  • IFRS - IASB Image
  • Updated IASB work plan — Analysis

    May 18, 2017

    On May 18, 2017, the International Accounting Standards Board (IASB) updated its work plan following its May 2017 meeting. There were no major changes with the exception of the insurance contracts project being removed from the active projects due to the issuance of IFRS 17.

  • IFRS - IASB Image
  • IASB issues new insurance contracts standard

    May 18, 2017

    On May 18, 2017, the International Accounting Standards Board (IASB) published a new standard, IFRS 17 "Insurance contracts". The new standard requires insurance liabilities to be measured at a current fulfillment value and provides a more uniform measurement and presentation approach for all insurance contracts. These requirements are designed to achieve the goal of a consistent, principle-based accounting for insurance contracts. IFRS 17 supersedes IFRS 4 "Insurance Contracts" and related interpretations and is effective for periods beginning on or after January 1, 2021, with earlier adoption permitted if both IFRS 15 "Revenue from Contracts with Customers" and IFRS 9 "Financial Instruments" have also been applied.

  • IFRS - IASB Image
  • IASB announces IFRS 17 release date

    May 16, 2017

    On May 16, 2017, the IFRS Foundation announced that it will deliver two live web sessions to introduce the new insurance contracts Standard, IFRS 17, which will be issued on May 18, 2017. In addition, the IASB expects to publish a proposed IFRS taxonomy update on insurance contracts.

  • IFRS - IASB Image
  • IASB posts webcast on IFRS 9

    May 16, 2017

    On May 16, 2017, the International Accounting Standards Board (IASB) staff made available a webcast discussing IFRS 9 and the application of the impairment requirements for revolving facilities.

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  • Financial Reporting Insights - May 2017

    published May 17, 2017

    A number of new accounting standards are on the horizon and while some organizations are nearing the completion of their implementation projects for these new standards, many are not as far ahead as they should be.

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  • A State of Change - May 2017

    published May 10, 2017

    In this issue, we bring you a summary of the major proposed changes to Part III - Accounting Standards for Not-for-Profit organizations in the recently issued Exposure Draft by the Accounting Standards Board.

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  • Accounting standards board (AcSB): Spring 2017 update

    published May 09, 2017

    Do you represent or advise a Canadian private enterprise, or are you a user of private enterprises’ financial reports? Get to know the latest financial reporting developments that may change your financial statements.

  • FAQs about the new FASB leases  Image
  • FAQs about the new FASB leases standard: You're not alone

    published May 08, 2017

    It's been more than a year since the Financial Accounting Standards Board (FASB) issued its new standard on accounting for leases, and the transition to the new standard has been a hot topic. What frequently asked questions continue to be a challenge for many companies? Hear perspectives on these and other frequently asked questions about the new leases standard based on discussions held with the FASB, other accounting firms, and the preparer community.

  • The-new-FASB-revenue-recognition Image
  • The new FASB revenue recognition standard: Charting an effective implementation

    published May 04, 2017

    The FASB’s Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers, takes effect in 2018 for companies with annual reporting periods beginning after December 15, 2017. How prepared is your company for implementing the standard? Gain new insights on how, with less than a year until the new revenue recognition standard becomes effective, you can put appropriate plans in place for implementation.

  • Demystifying audit quality indicators Image
  • Demystifying audit quality indicators

    published May 04, 2017

    Adding new dimensions to audit quality discussions during an audit. This document focuses on sharing our point of view, based in part on our participation in CPAB’s Audit Quality Indicators (AQIs) pilot. It explores what that means for audit committees and management today and how using AQIs can have a positive impact on audit quality.

  • Dbrief Enhanced disclosures Image
  • Enhanced disclosures: Leading practices and current trends

    published Apr 27, 2017

    Investors and other stakeholders seek greater insight into areas such as sustainability, strategy, risk, succession, and board and committee practices. Regulatory bodies are calling for enhanced disclosure on audit matters. What should financial executives consider in drafting disclosures? Learn what level and format of disclosure financial executives and boards could consider to effectively tell the company’s story in proxy statements and other stakeholder communications.

  • Private company issues and opportunities: What to consider in 2017 Image
  • Private company issues and opportunities: What to consider in 2017

    published Apr 25, 2017

    Today, even the most streamlined private organizations are being challenged by the quicksilver pace of technology’s progress. Breakthrough innovations such as the Internet of Things and augmented and virtual reality are disrupting commercial markets and business models on a seemingly daily basis.

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