All you need on UK Accounting, Reporting & Corporate Governance
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  • Pre-meeting summaries for the June 2024 IASB meeting

    17 Jun, 2024

    The IASB will meet in London on 19-20 June 2024 and hold a joint education meeting with FASB on 21 June 2024. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. We summarised the agenda papers made available by the IASB staff and point out the main issues to be discussed by the IASB and the staff recommendations.

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  • June 2024 ISSB meeting notes posted

    17 Jun, 2024

    The ISSB met on 12 June 2024 in a hybrid format (Frankfurt and virtual). We have posted our comprehensive Deloitte observer notes for the project discussed during the meeting.

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  • IFRS Foundation Monitoring Board welcomes progress of standard-setting activities

    12 Jun, 2024

    During the meeting of the IFRS Foundation Monitoring Board in Singapore last week, the Monitoring Board welcomed the progress of the IASB and the ISSB in their standard-setting activities. The Monitoring Board also noted the importance of rigorous due process in the development of high-quality IFRS Accounting Standards and IFRS Sustainability Disclosure Standards.

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  • Pre-meeting summaries for the June 2024 ISSB meeting

    10 Jun, 2024

    The ISSB will meet in a hybrid format (virtual and in Frankfurt) on 12 June 2024. We have posted our pre-meeting summaries for the meeting that allow you to follow the ISSB’s decision making more closely. We summarised the agenda papers made available by the ISSB staff and point out the main issues to be discussed by the ISSB and the staff recommendations.

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  • June 2024 IASB meeting agenda posted

    07 Jun, 2024

    The IASB has posted the agenda for its next meeting, which will be held in its offices in London on 19–21 June 2024 and will include a joint session with the FASB via video conference on 21 June 2024. There are nine topics on the agenda.

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  • TNFD and EFRAG publish correspondence mapping

    20 Jun, 2024

    The Taskforce on Nature-related Financial Disclosures (TNFD) and EFRAG have jointly published a mapping of the correspondence between the European Sustainability Reporting Standards (ESRS) and the TNFD's recommended disclosures and metrics.

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  • EFRAG briefing papers on IFRS 19 updated

    19 Jun, 2024

    In December 2021 and February 2022, EFRAG published briefing papers as part of its strategy to stimulate debate on the IASB's proposals that would permit eligible subsidiaries that are small and medium-sized entities to apply IFRSs but with reduced disclosure requirements. In view of the fact, that IFRS 19 'Subsidiaries without Public Accountability: Disclosures' has been finalised and issued, EFRAG has now updated the briefing papers.

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  • IVSC perspectives paper on tangible assets

    12 Jun, 2024

    The International Valuation Standards Council (IVSC) has issued a new perspectives paper focusing on the inspection of tangible assets in the valuation process.

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  • IPSASB develops climate-related disclosure standard for the public sector

    12 Jun, 2024

    The International Public Sector Accounting Standards Board (IPSASB), with support from the World Bank, is currently developing a climate-related disclosures standard for the public sector. This will be the first IPSASB Sustainability Reporting Standard (IPSASB SRS) and a draft for public comment is expected in Q4 2024.

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  • IFRS on Point — May 2024

    published 07 Jun, 2024

    'IFRS on Point' highlights critical financial and sustainability reporting developments and main IFRS-related news stories of the previous month.

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  • EFRAG endorsement status report 31 May 2024

    published 31 May, 2024

    The endorsement status report has been updated to reflect that the IASB has issued 'Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)'.

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  • EFRAG endorsement status report 27 May 2024

    published 27 May, 2024

    The endorsement status report has been updated to now also reflect that the IASB has issued IFRS 19 'Subsidiaries without Public Accountability: Disclosures'. However, a footnote indicates that EFRAG has yet to receive the request for endorsement advice from the European Commission.

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  • Corporate Reporting Insights — Diversity and Inclusion: Are companies achieving the targets in the new Listing Rule?

    published 26 May, 2024

    Society is demanding progress on many social issues and expects businesses to reflect this. Regulators are responding, setting out expectations for greater transparency. One of these key issues is diversity and inclusion, where the Financial Conduct Authority (FCA) recently introduced a requirement for listed companies to provide disclosures on board and executive management diversity. The disclosures were mandatory for the first time for December reporters for their 2023 annual reports. So, how are companies measuring up to society’s and the regulator’s expectations? Explore our new Corporate Reporting Insights (CRI) report on Diversity and Inclusion to find out.

  • Governance in focus — Risk, controls and assurance: a framework for the new material controls declaration Image
  • Governance in focus — Risk, controls and assurance: a framework for the new material controls declaration

    published 22 May, 2024

    On 22 January 2024, the Financial Reporting Council (FRC) issued the much anticipated updated UK Corporate Governance Code (“the Code”) following a consultation last year as part of the ‘Restoring trust in audit and corporate governance’ reform package. With the ultimate aim of strengthening board accountability for the effectiveness of the risk and internal control framework, under the revised Provision 29, boards will be required to provide a declaration of effectiveness of the material controls as at the balance sheet date for accounting periods commencing on or after 1 January 2026.

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  • Need to know — Amendments to FRS 102 - Periodic review 2024

    published 22 May, 2024

    This 'Need to know' outlines the amendments to FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and to other UK financial reporting standards, published by the Financial Reporting Council (FRC) in March 2024 as part of its periodic review of the UK financial reporting framework.

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  • EFRAG endorsement status report 17 May 2024

    published 17 May, 2024

    The endorsement status report has been updated to reflect that European Union has endorsed 'Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)' issued by the IASB in May 2023.

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