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All you need on UK Accounting, Reporting & Corporate Governance
  • IASB (International Accounting Standards Board) (blue) Image
  • Trustees reappoint four IASB members

    21 Feb 2017

    The IFRS Foundation trustees have announced the reappointment of Martin Edelmann, Gary Kabureck, Chungwoo Suh, and Mary Tokar to serve a second term as IASB board members beginning on July 1, 2017.

  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image
  • EFRAG issues draft endorsement advice on IFRIC 22

    20 Feb 2017

    The European Financial Reporting Advisory Group (EFRAG) has issued for comment its draft endorsement advice for the use of IFRIC Interpretation 22 'Foreign Currency Transactions and Advance Consideration' in the European Union (EU).

  • IASB meeting (blue) Image
  • Pre-meeting summaries for the February IASB meeting

    15 Feb 2017

    The International Accounting Standards Board (IASB) will meet at its offices in London on 22–23 February 2017. We have posted our pre-meeting summaries for the meeting that allow you to follow the IASB’s decision making more closely. For each topic to be discussed we summarise 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.

  • FRC Image
  • FRC provides an update on developments in audit

    15 Feb 2017

    The Financial Reporting Council (FRC) has published an update on developments in audit (“the updated report”) since its July 2016 report which assessed “justifiable confidence in UK audit”.

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  • EFRAG endorsement status report 21 February 2017 Image
  • EFRAG endorsement status report 21 February 2017

    published 21 Feb 2017

    This endorsement status report update reflects that EFRAG published draft endorsement advice on 'Transfers of Investment Property (Amendments to IAS 40)'. Endorsement is currently expected in the third quarter of 2017.

  • EFRAG endorsement status report 17 February 2017 Image
  • EFRAG endorsement status report 17 February 2017

    published 17 Feb 2017

    This endorsement status report update reflects that EFRAG published draft endorsement advice on IFRIC Interpretation 22, "Foreign Currency Transactions and Advance Considerations." Endorsement is currently expected in the third quarter of 2017.

  • Thinking allowed — Non-GAAP and Alternative performance measures Image
  • Thinking allowed — Non-GAAP and Alternative performance measures

    published 16 Feb 2017

    Alternative performance measures (non-GAAP financial measures) have become the subject of increased focus by securities regulators and standard-setters. The regulators and standard-setters face a challenge. If their requirements are overly prescriptive they could actually reduce the usefulness of annual reports when their intention is to increase their credibility and usefulness. There are good reasons for companies to supplement GAAP information. The key is ensure that non-GAAP financial measures are part of good communication and do not undermine or confuse the GAAP information. In this publication we take a look at non-GAAP financial measures and the reasons companies feel compelled to report them, and challenge some of the common perceptions about them.

  • Thinking allowed — Climate-related disclosure Image
  • Thinking allowed — Climate-related disclosure

    published 15 Feb 2017

    This publication looks at some of the issues involved and how companies and audit committees might respond to the challenges, drawing on a report issued by the FSB Task Force on Climate-related Financial Disclosure, to integrate the implications of climate change in their corporate reporting effectively.

  • Need to know — Non-Financial Reporting Regulations Image
  • Need to know — Non-Financial Reporting Regulations

    published 15 Feb 2017

    The government has enacted 'The Companies, Partnerships and Groups (accounts and Non-Financial Reporting) Regulations 2016' (SI 2016/1245) implementing the EU Non-Financial Reporting Directive (Directive 2014/95/EU). This newsletter discusses the new Regulations.

  • IFRS on point — January 2017 Image
  • IFRS on point — January 2017

    published 15 Feb 2017

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

  • EFRAG endorsement status report 14 February 2017  Image
  • EFRAG endorsement status report 14 February 2017

    published 14 Feb 2017

    This endorsement status report update reflects that EFRAG published draft endorsement advice on IFRS 16 'Leases'. Endorsement is currently expected in the fourth quarter of 2017.

  • Governance in focus — Cyber risk reporting in the UK Image
  • Governance in focus — Cyber risk reporting in the UK

    published 06 Feb 2017

    Cyber crime is growing more rapidly than cyber security, and organisations have never been more at risk from cyber attacks. This is our first survey of cyber reporting practices covering the full FTSE 100 and we have designed it to identify examples of good practice and offer insight to all listed companies about how to keep the users of annual reports better informed.

  • EFRAG endorsement status report 6 February 2017 Image
  • EFRAG endorsement status report 6 February 2017

    published 06 Feb 2017

    This endorsement status report update reflects that EFRAG published draft endorsement advice on 'Annual Improvements to IFRS Standards 2014–2016 Cycle'. Endorsement is currently expected in the third quarter of 2017.

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