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All you need on UK Accounting, Reporting & Corporate Governance
  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image
  • EFRAG Board President and Vice-President reappointed

    25 Jun 2019

    ​Following the recommendation from the European Commission, the General Assembly of the European Financial Reporting Advisory Group (EFRAG) has reappointed Jean-Paul Gauzès and Andreas Barckow as Board President and Vice President, respectively.​

  • IASB webcast Image
  • IASB posts webcast on borrowing costs and revenue recognition

    24 Jun 2019

    The IASB has posted a webcast, by IASB technical staff Jawaid Dossani and Nicolette Lange, that discusses conclusions reach at by the IFRS Interpretation Committee related to the application of IAS 23, ‘Borrowing Costs’ and its interaction with IFRS 15, ‘Revenue from Contracts with Customers’.

  • IASB (International Accounting Standards Board) (blue) Image
  • Updated IASB work plan — Analysis

    24 Jun 2019

    Following the IASB's June 2019 meeting, we have analysed the IASB work plan to see what changes have resulted from the meeting and other developments since the work plan was last revised in April. Most changes relate to exposure drafts having been published or comment letter periods having ended.

  • IASB meeting (blue) Image
  • June 2019 IASB meeting notes posted

    24 Jun 2019

    The IASB met in London on 17–19 June 2019. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

  • DPOC meeting (mid blue) Image
  • Agenda for the June 2019 DPOC meeting

    20 Jun 2019

    The Trustees of the IFRS Foundation will be meeting in Munich from 25 to 27 June 2019. However, only the meeting of the Due Process Oversight Committee (DPOC) on 25 June will be held in public.

  • ASAF (Accounting Standards Advisory Forum) (mid blue) Image
  • Agenda for the July 2019 ASAF meeting

    19 Jun 2019

    The International Accounting Standards Board (IASB) has released an agenda for the meeting of the Accounting Standards Advisory Forum (ASAF), which is to be held at the IASB's offices in London on 11 and 12 July 2019.

  • IFRS Trustees speeches (blue) Image
  • Chair of the IFRS Foundation Trustees speaks on digitalisation

    19 Jun 2019

    On 19 June 2019, Erkki Liikanen, Chair of the Trustees of the IFRS Foundation, gave a speech discussing whether digitalisation will deliver increased productivity to the global economy and how the IFRS Foundation is undertaking its own digital transformation.

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  • A Closer Look — Revenue recognition - evaluating whether an entity is acting as a principal or as an agent Image
  • A Closer Look — Revenue recognition - evaluating whether an entity is acting as a principal or as an agent

    published 25 Jun 2019

    In April 2016, the IASB issued Clarifications to IFRS 15 which amended the principal-versus-agent implementation guidance and illustrations in IFRS 15 to clarify how the principal-versus-agent indicators should be evaluated to support an entity’s conclusion that it controls a specified good or service before it is transferred to a customer. However, given the complexities of some arrangements, including those involving three or more parties, the evaluation of whether an entity is acting as a principal or as an agent continues to require significant judgement, and conclusions reached under IAS 18 may not be the same as those reached under IFRS 15.

  • Deloitte comment letter on the IASB’s proposal on interest rate benchmark reform Image
  • Deloitte comment letter on the IASB’s proposal on interest rate benchmark reform

    published 17 Jun 2019

    We support the IASB’s response in proposing amendments to both IFRS 9 and IAS 39 that deal with the immediate need of addressing the effect of the uncertainty arising from changes in benchmark interest rates on the “highly probable” requirement for cash flow hedges and the designated risk for cash flow and fair value hedges and suggest the IASB work on finalizing these amendments and begin the work on its second phase of amendments concurrently.

  • IFRS on Point — May 2019 Image
  • IFRS on Point — May 2019

    published 12 Jun 2019

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

  • On the board agenda — half year 2019  Image
  • On the board agenda — half year 2019

    published 05 Jun 2019

    Before you break for the summer, this briefing is designed as an update to help you establish the agenda for the rest of 2019. This review for boards and committees covers interim and year-end reporting, emerging themes, as well as an update on areas of regulatory focus. There is much to get to grips with which will benefit from forward planning. To assist we have provided a summary checklist for your agenda.

  • Report on the H1 2019 IFASS meeting  Image
  • Report on the H1 2019 IFASS meeting

    published 23 May 2019

    Report summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in Buenos Aires on 28 and 29 March 2019.

  • Accounting Roundup — May 2019 Image
  • Accounting Roundup — May 2019

    published 23 May 2019

    This accounting roundup, covering the period January 2019 through to April 2019, pulls together the headlines for all the latest developments in accounting, providing links to a wealth of further information and resources.

  • Lease modifications – extending the lease term Image
  • Lease modifications – extending the lease term

    published 21 May 2019

    This publication from Deloitte Hong Kong focuses on the extension of a lease. Specifically, it addresses the following issues: 1) What constitutes a lease modification? 2) When should a lease modification be accounted for? 3) What is the impact of a lease modification on the lease term? 4) How do the modification requirements interact with transition reliefs?

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    Correction list for hyphenation

    These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.