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UKEB adopts amendments to IAS 7 and IFRS 7 regarding supplier finance arrangements
01 Dec, 2023
The UK Endorsement Board (UKEB) has adopted 'Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)' issued by the International Accounting Standards Board (IASB) in May 2023.
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December 2023 IASB meeting agenda posted
01 Dec, 2023
The IASB has posted the agenda for its next meeting, which will be held in its offices in London on 12–14 December 2023. There are ten topics on the agenda.
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IFRS Foundation launches knowledge hub to support the implementation of IFRS S1 and IFRS S2
01 Dec, 2023
The IFRS Foundation has launched the IFRS Sustainability Knowledge Hub to support the implementation of IFRS S1 ‘General Requirements for Disclosure of Sustainability-related Financial Information’ and IFRS S2 ‘Climate-related Disclosures’. The hub is a tool in the capacity building programme for the new standards before they become effective for annual periods beginning on or after 1 January 2024.
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Multilateral development banks confirm support for work of the ISSB at COP28
30 Nov, 2023
At COP 28, currently held in Dubai, United Arab Emirates, the Asian Infrastructure Investment Bank, the European Investment Bank, the Inter-American Development Bank and the European Bank for Reconstruction and Development have confirmed their support for the work of the International Sustainability Standards Board (ISSB).
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IASB publishes proposed amendments regarding financial instruments with characteristics of equity
29 Nov, 2023
The International Accounting Standards Board (IASB) has published an exposure draft IASB/ED/2023/5 'Financial Instruments with Characteristics of Equity (Proposed amendments to IAS 32, IFRS 7 and IAS 1)'. It contains proposed amendments that aim at clarifying the classification requirements in IAS 32 'Financial Instruments: Presentation', including their underlying principles, to address known practice issues that arise in applying IAS 32. Comments are requested by 29 March 2024.
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ACCA publishes a new guide on sustainability reporting preparation
28 Nov, 2023
The Association of Chartered Certified Accountants (ACCA) has published a new guide 'Sustainability reporting - the guide to preparation' to help companies start to prepare for sustainability reporting.
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IFRS Foundation video on proposed changes to IFRS Accounting Taxonomy 2023
28 Nov, 2023
The IFRS Foundation has issued a video featuring IASB Member Ann Tarca who provides an explanation of the proposed changes to the IFRS Accounting Taxonomy for 2023.
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A4S publishes third edition of introduction to sustainability-related reporting
28 Nov, 2023
Accounting for Sustainability (A4S) has published the third edition of 'Navigating the Reporting Landscape'.
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Pre-meeting summaries for the November 2023 IFRS Interpretations Committee meeting
27 Nov, 2023
The IFRS Interpretations Committee (Committee) meets on 28-29 November 2023. The IFRS IC will discuss two new items, finalisation of one agenda decision and input to three International Accounting Standards Board (IASB)’s projects.
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Secretary of State for Business and Trade issues an updated remit letter to the FRC
27 Nov, 2023
The Secretary of State for Business and Trade has issued the Financial Reporting Council (FRC) with a new remit letter updating the Government’s priorities for the FRC’s work.
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Agenda for the SMEIG December meeting
01 Dec, 2023
The next meeting of the SME Implementation Group (SMEIG) will be held on 5 December 2023.
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Academic study on the costs and benefits of IFRS 15 adoption
29 Nov, 2023
The European Financial Reporting Advisory Group (EFRAG) has published the results of academic study on the effects of the adoption of IFRS 15 'Revenue from Contracts with Customers' on preparers and users of financial statements.
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Report of the October 2023 Emerging Economies Group meeting
27 Nov, 2023
The 26th meeting of the IASB's Emerging Economies Group (EEG) was held on 30–31 October 2023. The IASB has published a full report of the meeting.
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Summary of the October 2023 CMAC meeting
27 Nov, 2023
Representatives from the International Accounting Standards Board (IASB) met with the Capital Markets Advisory Council (CMAC) in a hybrid meeting on 19 October 2023. Notes from the meeting have now been released.
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UK Endorsement Board publishes its 2022/23 Annual Reports
24 Nov, 2023
The UK Endorsement Board (UKEB) has published its two Annual Reports for the reporting period 2022/2023.
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FRC publishes thematic review of audit sampling
24 Nov, 2023
The Financial Reporting Council (FRC) has published its thematic review of audit sampling.
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Agenda for the November 2023 Consultative Group for Rate Regulation meeting
22 Nov, 2023
The Consultative Group for Rate Regulation will hold its next meeting virtually on 30 November 2023.
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European Union formally adopts amendments to IFRS 16
21 Nov, 2023
The European Union has published a Commission Regulation endorsing 'Lease Liability in a Sale and Leaseback (Amendments to IFRS 16)' issued by the IASB in September 2022.
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Report on the autumn 2023 IFASS meeting
21 Nov, 2023
A report has been issued summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in London and by remote participation on 26 and 27 September 2023.
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Second EBA report on IFRS 9 implementation
19 Nov, 2023
The European Banking Authority (EBA) has published a second report summarising the findings arising from the monitoring activities on the IFRS 9 implementation by EU institutions.
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Governance in focus — Cyber risk and governance reporting in the UK: a changing landscape
published 01 Dec, 2023
We are pleased to present our fourth annual analysis of cyber opportunity, risk and governance reporting across the FTSE 100 which is designed to offer insights about how to keep the users of annual reports informed in this important area.
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Deloitte comment letter on the proposed annual improvements (volume 11)
published 26 Nov, 2023
We agree with the amendments proposed in the exposure draft and have no specific comments.
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EFRAG endorsement status report 21 November 2023
published 21 Nov, 2023
The endorsement status report has been updated to reflect that European Union has endorsed the amendments to IAS 16 'Lease Liability in a Sale and Leaseback'.
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Report on the H2 2023 IFASS meeting
published 21 Nov, 2023
Report summarising the discussions at the meeting of the International Forum of Accounting Standard Setters (IFASS) held in London and by remote participation on 26 and 27 September 2023.
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Deloitte comment letter on tentative agenda decision on payments contingent on continued employment during handover periods
published 16 Nov, 2023
We agree with the IFRS Interpretations Committee’s decision not to add this item onto its agenda for the reasons set out in the tentative agenda decision.
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Need to know — Areas of Focus for Corporate Reporting (November 2023)
published 13 Nov, 2023
This 'Need to know' sets out financial reporting issues that may be relevant in view of the current economic and geopolitical environment and also highlights areas of regulatory focus and recent changes in accounting standards. The topics contained within this publication will be relevant to all companies preparing annual reports and accounts as well as half-yearly reporters. This 'Need to know' should be read in conjunction with Closing Out 2022 and the Financial Reporting council’s (FRC’s) latest Annual Review of Corporate Reporting which contain additional topics for UK entities to consider including reporting expectations and areas of regulatory focus.
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EFRAG endorsement status report 9 November 2023
published 09 Nov, 2023
The endorsement status report has been updated to reflect that European Union has endorsed the amendments to IAS 12 'Income Taxes'.
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IFRS on Point — October 2023
published 03 Nov, 2023
'IFRS on Point' highlights critical financial reporting developments and main IFRS-related news stories of the previous month.
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Deloitte comment letter on updated draft SORP for Limited Liability Partnerships
published 01 Nov, 2023
We have published our comment letter on the Consultative Committee of Accountancy Bodies’ (CCAB’s) updated draft of its Limited Liability Partnerships (LLPs) Statement of Recommended Practice (SORP).
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Need to know — TNFD publishes final recommendations for nature-related risk management and disclosure
published 31 Oct, 2023
This Need to know outlines the final recommendations for nature-related risk management and disclosure (Version 1.0), published by the Taskforce on Nature-related Financial Disclosures (TNFD) in September 2023. These recommendations aim to help businesses start measuring, managing and disclosing their nature-related impacts, dependencies, risks and opportunities
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IASB Meeting — 12–14 December 2023
Start: 12 Dec, 2023 - End: 14 Dec, 2023
The IASB will meet in its offices in London on 12–14 December 2023.
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IFRS Interpretations Committee meeting — 28–29 November 2023
Start: 28 Nov, 2023 - End: 29 Nov, 2023
The IFRS Interpretations Committee will meet on 28–29 November 2023.
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ISSB Meeting — 15–16 November 2023
Start: 15 Nov, 2023 - End: 16 Nov, 2023
The ISSB met in Beijing on 15–16 November 2023.
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IASB Meeting — 13–15 November 2023
Start: 13 Nov, 2023 - End: 15 Nov, 2023
The IASB met in its offices in London on 13–15 November 2023.
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IASB Meeting — 25–26 October 2023
Start: 25 Oct, 2023 - End: 26 Oct, 2023
The IASB met in its offices in London on 25–26 October 2023.
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ISSB Meeting — 24–25 October 2023
Start: 24 Oct, 2023 - End: 25 Oct, 2023
The ISSB met virtually on 24–25 October 2023.
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IASB-FASB Joint Education Meeting — 29 September 2023
Start: 29 Sep, 2023 - End: 29 Sep, 2023
The IASB and FASB met in London on 29 September 2023.
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IASB Meeting — 19–21 September 2023
Start: 19 Sep, 2023 - End: 21 Sep, 2023
The IASB met in its offices in London on 19-21 September 2023.
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ISSB Meeting — 14 September 2023
Start: 14 Sep, 2023 - End: 14 Sep, 2023
The ISSB met on 14 September 2023 in Montreal, Canada.
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IFRS Interpretations Committee meeting — 12 September 2023
Start: 12 Sep, 2023 - End: 12 Sep, 2023
The IFRS Interpretations Committee met on 12 September 2023.