All you need on UK Accounting, Reporting & Corporate Governance
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  • EC tells EFRAG to concentrate on the implementation of Set 1 of the ESRS

    22 Mar, 2023

    On 22 November 2022, the European Financial Reporting Advisory Group (EFRAG) submitted its first set of draft European Sustainability Reporting Standards (ESRS) to the European Commission (EC) and began working on Set 2 of the ESRS, which would contain sector-specific standards. EFRAG has now been told to concentrate on providing additional guidance on how to apply the proposed standards in Set 1.

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  • IASB proposes amendments regarding the classification and measurement of financial instruments

    21 Mar, 2023

    The International Accounting Standards Board (IASB) has published an exposure draft 'Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7)' to address matters identified during the post-implementation review of the classification and measurement requirements of IFRS 9 'Financial Instruments'. Comments are requested by 19 July 2023.

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  • IFRS Interpretations Committee holds March 2023 meeting

    20 Mar, 2023

    The IFRS Interpretations Committee (Committee) met on 14-15 March 2023. The Committee discussed comment letters on one tentative agenda decision, three new items, two potential Annual Improvements to IFRS Accounting Standards and an item for input on an IASB project.

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  • EFRAG Final Comment Letter on IAS 12 and pillar two income taxes

    17 Mar, 2023

    The European Financial Reporting Advisory Group (EFRAG) has published its Final Comment Letter in response to the International Accounting Standard Board's (IASB's) Exposure Draft 'International Tax Reform — Pillar Two Model Rules (Proposed amendments to IAS 12)'.

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  • Pre-meeting summaries for the March 2023 IASB meeting

    16 Mar, 2023

    The IASB meets in London on 20–23 March 2023. 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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  • Pre-meeting summaries for the March 2023 ISSB meeting

    14 Mar, 2023

    The ISSB is meeting in Frankfurt on 16 March 2023. 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 and pointed out the main issues and recommendations.

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  • Bases for conclusions on draft ESRS available

    13 Mar, 2023

    On 22 November 2022, the European Financial Reporting Advisory Group (EFRAG) submitted its draft European Sustainability Reporting Standards (ESRS) to the European Commission. The bases for conclusions to go with each proposed ESRS have now become available as well.

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  • March 2023 IASB meeting agenda posted

    10 Mar, 2023

    The IASB has posted the agenda for its next meeting, which will be held in its office in London on 20–23 March 2023. There are seven topics on the agenda.

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  • EFRAG seeks members for new Advisory Panel

    15 Mar, 2023

    The European Financial Reporting Advisory Group (EFRAG) is seeking candidates to join its new Advisory Panel on Connectivity between Financial and Sustainability Reporting Information (EFRAG CAP).

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  • IFRS Foundation seeks new SMEIG members

    07 Mar, 2023

    The IFRS Foundation Trustees are currently seeking nominations for membership of the SME Implementation Group (SMEIG), which supports the international adoption of the 'International Financial Reporting Standards for Small and Medium-sized Entities' (IFRS for SMEs) and monitors its implementation.

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  • FTSE Women Leaders Review highlights early achievement of the 40% target for women on FTSE 350 boards

    06 Mar, 2023

    The FTSE Women Leaders Review is an independent, business-led framework supported by the Government, which sets recommendations for Britain’s largest companies to improve the representation of women on boards and in leadership positions. The latest report highlights that FTSE 350 companies have met the 40% target for women on the boards of FTSE 350 companies three years ahead of the December 2025 target.

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  • Updated IPSAS-IFRS alignment dashboard

    06 Mar, 2023

    The International Public Sector Accounting Standards Board (IPSASB), which develops the International Public Sector Accounting Standards (IPSAS) for financial reporting by governments and other public sector entities, has released an updated IPSAS-IFRS alignment dashboard showing how far individual IPSAS are aligned with corresponding IFRSs.

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  • Deloitte response to the survey on the need for GHG protocol corporate standards and guidance updates

    published 22 Mar, 2023

    In our response, we emphasise aspects of the GHGP for which we believe there is a need for greater consistency. In particular, we recommend that that the Corporate Standard should use terminology from widely-adopted financial reporting standards – notably IFRS Accounting Standards and U.S. GAAP, to the extent possible. We believe this is particularly important to promote connectivity of GHG emissions disclosures with financial reporting.

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  • Stay Tuned Online - March 2023

    published 10 Mar, 2023

    Stay Tuned Online is an online corporate reporting update, aimed at helping finance teams keep up to speed with narrative, governance and financial reporting issues. Each update lasts about an hour.

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  • Need to know — Periodic review of FRS 102

    published 09 Mar, 2023

    This Need to know outlines the proposals set out by the Financial Reporting Council's (FRC's) exposure draft, Financial Reporting Exposure Draft (FRED) 82 'Draft amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs – Periodic Review' (FRED 82) which proposes to make significant amendments to FRS 102 and the other UK accounting standards as part of its periodic review of the UK financial reporting framework.

  • IFRS on Point — February 2023 Image

  • IFRS on Point — February 2023

    published 07 Mar, 2023

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

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