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All you need on UK Accounting, Reporting & Corporate Governance
  • IIRC (International Integrated Reporting Committee) (green) Image
    SASB (Sustainability Accounting Standards Board) (green) Image
  • IIRC and SASB intend to merge

    25 Nov 2020

    The International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB) have announced their intention to merge into the Value Reporting Foundation, a unified organisation intended to provide investors and corporates with a comprehensive corporate reporting framework across the full range of enterprise value drivers and standards.

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  • We comment on the tentative agenda decision on sale and leaseback in a corporate wrapper

    24 Nov 2020

    We have commented on the IFRS Interpretations Committee's publication in the September 2020 'IFRIC Update' of the tentative decision not to take onto the Committee’s agenda the request for clarification on the applicability of the sale and leaseback requirements in IFRS 16 to a transaction in which an entity sells its equity interest in a subsidiary that holds one asset and leases that asset back.

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    GPF meeting (mid blue) Image
  • Summary of the October 2020 joint CMAC-GPF meeting

    24 Nov 2020

    Representatives from the International Accounting Standards Board (IASB) met with both the Capital Markets Advisory Council (CMAC) and Global Preparers Forum (GPF) by video conference on 8 October 2020. Notes and recordings from the joint meeting have now been released.

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  • November 2020 IASB meeting notes posted

    20 Nov 2020

    The IASB met via video conference on 18 November 2020 to discuss five topics and on 19 November it met with the FASB in an educational meeting. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

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  • Deloitte comment letter on the tentative agenda decision on sale and leaseback in a corporate wrapper Image
  • Deloitte comment letter on the tentative agenda decision on sale and leaseback in a corporate wrapper

    published 24 Nov 2020

    We agree that the IFRS Interpretations Committee’s conclusions as laid out in the agenda decision reflect the requirements of IFRS 10 and IFRS 16 in relation to the specific fact pattern presented therein. However, we strongly suggest that in addition to this decision the Board takes on a broader project to address the treatment of the sale of corporate wrappers, in particular when, if ever, these should be accounted for as sales of assets rather than subsidiaries.

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  • EFRAG endorsement status report 6 November 2020

    published 06 Nov 2020

    The endorsement status report has been updated to reflect that EFRAG has published draft endorsement advice on 'Classification of Liabilities as Current or Non-current' and 'Deferral of Effective Date (Amendments to IAS 1)'. The updated report also reflects positive ARC votes on amendments to IFRS 4 regarding the deferral of IFRS 9 and on the IBOR reform amendments phase 2.

  • IFRS on Point — October 2020 Image
  • IFRS on Point — October 2020

    published 06 Nov 2020

    'IFRS on Point' highlights critical financial reporting developments. It provides a great way to catch up on the main IFRS-related news stories of the previous month.

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  • Accounting Roundup-October 2020

    published 29 Oct 2020

    This accounting roundup, covering the period July 2020 through to September 2020, pulls together the headlines for all the latest developments in accounting, providing links to a wealth of further information and resources.

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  • Deloitte e-learning — IAS 41

    published 29 Oct 2020

    This Deloitte e-learning module provides training in the background, scope and principles under IAS 41 'Agriculture', and the application of this Standard. Topics covered include the recognition and measurement requirements for biological assets, measuring biological assets at fair value, the treatment of gains and losses and accounting for related government grants.

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  • Deloitte e-learning — IAS 16

    published 29 Oct 2020

    This Deloitte e-learning module provides training in the background, scope and principles under IAS 16 'Property, Plant and Equipment', and the application of this Standard. Topics covered include the initial measurement of assets, accounting for dismantling costs, depreciation, subsequent measurement of property, plant and equipment and the impact of impairment.

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