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IFAC publishes call to action on climate change
12 Dec 2019
The International Federation of Accountants (IFAC) has published a ‘Points of view’ document calling on action from various stakeholders with respect to climate change highlighting that they should all “embrace climate action and be part of the solution”.
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DPOC to hold conference call on 16 December
11 Dec 2019
The Due Process Oversight Committee (DPOC) of the IFRS Foundation has published an agenda and papers for a conference call to be held on 16 December 2019.
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European Union formally adopts amendments to IAS 1 and IAS 8 regarding the definition of materiality
11 Dec 2019
The European Union has published a Commission Regulation endorsing 'Definition of Material (Amendments to IAS 1 and IAS 8)'.
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Death of Paul Volcker, inaugural Chairman of the IFRS Foundation Trustees
10 Dec 2019
The staff and the Trustees of the IFRS Foundation and the International Accounting Standards Board have released condolences on the death of Paul Volcker, inaugural Chairman of the IFRS Foundation (formerly IASC Foundation) Trustees, serving from 2000 until 2006.
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Closing Out 2019
10 Dec 2019
Welcome to our one-stop guide covering the issues relevant to the preparation of December 2019 annual reports.
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EFRAG publishes November 2019 issue of 'EFRAG Update'
10 Dec 2019
The European Financial Reporting Advisory Group (EFRAG) has published an 'EFRAG Update' summarising public technical discussions held and decisions made during November 2019.
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FRC issues revised Client Asset Assurance Standard
10 Dec 2019
The Financial Reporting Council (FRC) has issued a revised Client Asset Assurance Standard (CASS Standard).
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IASB Vice-Chair speaks at annual AICPA conference
10 Dec 2019
At the 2019 AICPA Conference on Current SEC and PCAOB Developments, which is currently being held in Washington, IASB Vice-Chair Sue Llyod spoke about the IASB's primary financial statements project, the linkage between financial and non-financial reporting in the IASB's management commentary project, and consistent application of IFRSs.
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EFRAG explains how comments on its draft IFRS 17 comment letter were considered in finalising the letter
09 Dec 2019
The European Financial Reporting Advisory Group (EFRAG) published its final comment letter on the IASB exposure draft ED/2019/4 ‘Amendments to IFRS 17' in September 2019. EFRAG has now released a feedback statement summarising comments received on the draft comment letter and explaining how those comments were considered by EFRAG during its technical discussions leading to the publication of the final comment letter.
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UK GAAP application for reporting periods ending 31 December 2019
06 Dec 2019
The table below reflects new and revised UK GAAP financial reporting requirements that need to be considered for financial reporting periods ending on 31 December 2019.
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A closer look — Climate change
published 12 Dec 2019
A growing number of scientific projections detail not only potential average increases in global temperatures, but also the consequences, such as rising sea levels and more frequent extreme weather events. Economic forecasts are also increasingly reflecting these impacts, including related factors such as carbon pricing initiatives and changing demand for fossil fuels and renewable energy. It is critical to recognise that the past is no longer a predictor of the future. As a result, investors, regulators and other business stakeholders are increasingly demanding better disclosures on climate change matters and challenging companies that are not factoring the effects of climate change into their critical accounting judgements. This Closer Look publication provides an overview of investor and regulatory focus, and explores a framework for companies to use in responding to climate-related matters, including areas in the financial statements and in narrative reporting that might be affected. It also signposts further guidance and resources.
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EFRAG endorsement status report 11 December 2019
published 11 Dec 2019
The endorsement status report has been updated to reflect that the European Commission has published a Commission Regulation endorsing the IASB's finalised pronouncement, 'Definition of Material — Amendments to IAS 1 (Presentation of Financial Statements) and IAS 8 (Accounting Policies, Changes in Accounting Estimates and Errors)'.
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IFRS on Point — November 2019
published 10 Dec 2019
'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 - Closing Out 2019
published 10 Dec 2019
Closing Out 2019 discusses the significant corporate reporting issues relevant to 31 December 2019 annual reports, covering areas of regulatory focus identified in the FRC’s Annual Review of Corporate Reporting 2018/2019 and the ESMA’s common enforcement priorities for issuers in the European Union, together with other developments in reporting standards and areas of investor interest.
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EFRAG endorsement status report 9 December 2019
published 09 Dec 2019
The endorsement status report has been updated to reflect that the European Union has formally adopted 'Amendments to References to the Conceptual Framework in IFRS Standards'.
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Governance in focus — On the board agenda 2020
published 05 Dec 2019
As 2019 draws to a close, our annual review of board topics will stimulate your thinking and help prepare you for the year ahead. After pieces on the economic outlook, the Nine Big Shifts and the “Social Enterprise”, we pull together, in one place, a series of articles reviewing many topics on the board agenda across four key themes – responsible business, risk & internal controls, remuneration and year-end reporting & assurance. Our annual review is, once again, a full read as there is much to consider.
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Corporate Governance Disclosure Checklist (For periods commencing on or after 1 January 2019)
published 05 Dec 2019
This checklist produced by Deloitte (UK) sets out the key disclosure requirements under the Listing Rules, the Disclosure Guidelines and Transparency Rules on audit committees and corporate governance statements, the 2018 UK Corporate Governance Code, the Guidance on Risk Management and Internal Control and Related Financial and Business Reporting, the 2016 version of the Guidance on Audit Committees, the 2018 version of the Guidance on Board Effectiveness and the Statutory Audit Services for Large Companies Market Investigation (Mandatory Use of Competitive Tender Processes and Audit Committee Responsibilities) Order 2014.
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Insurance webcast 76 — The IASB accepts to discuss new topics to amend IFRS 17
published 05 Dec 2019
Provides highlights of the IASB meeting held on 20 November 2019, as well as an analysis of the IASB discussion and tentative decisions.
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Deloitte e-learning — IFRS 3
published 05 Dec 2019
This Deloitte e-learning module provides training in the background, scope and principles under IFRS 3 'Business Combinations', and the application of this Standard. Topics covered include the definition of a business combination, amounts included in consideration transferred, recognition and measurement principles, and accounting for goodwill.
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Deloitte e-learning — IAS 40
published 05 Dec 2019
This Deloitte e-learning module provides training in the background, scope and principles under IAS 40 'Investment Property', and the application of this Standard. Topics covered include the identification of investment property, measuring investment property at fair value, changes in classification, and accounting for investment property disposals.
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IASB Meeting — 11–12 December 2019
Start: 11 Dec 2019 - End: 12 Dec 2019
The IASB will be meeting on 11–12 December 2019 to discuss 9 topics.
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IFRS Interpretations Committee meeting — 26 November 2019
Start: 26 Nov 2019 - End: 26 Nov 2019
The IFRS Interpretations Committee will meet on Tuesday 26 November 2019 to discuss six issues, including three new interpretation requests.
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IASB Meeting — 19–20 November 2019
Start: 19 Nov 2019 - End: 20 Nov 2019
The IASB met on 19–20 November 2019 to discuss 7 projects.
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IASB Meeting — 22–23 October 2019
Start: 22 Oct 2019 - End: 23 Oct 2019
The IASB met on 22–23 October 2019 to discuss 10 topics.
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IASB Meeting — 24–26 September 2019
Start: 24 Sep 2019 - End: 26 Sep 2019
The IASB met at its offices in London on 24–26 September 2019 to discuss 15 topics.
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IFRS Interpretations Committee meeting — 17 September 2019
Start: 17 Sep 2019 - End: 17 Sep 2019
The IFRS Interpretations Committee met on Tuesday 17 September 2019 to discuss nine issues, including three new interpretation requests.
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IASB Meeting — 28 August 2019
Start: 28 Aug 2019 - End: 28 Aug 2019
The International Accounting Standards Board (IASB) met at its offices in London on 28 August 2019 to discuss feedback received on ED/2019/1 'Interest Rate Benchmark Reform (Proposed amendments to IFRS 9 and IAS 39)'.
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IASB Meeting — 22–25 July 2019
Start: 22 Jul 2019 - End: 25 Jul 2019
On 23 June the IASB and the US FASB held a joint education meeting. The IASB met on 22 July and 24–25 July.
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IASB Meeting — 17–19 June 2019
Start: 17 Jun 2019 - End: 19 Jun 2019
The IASB met in London on 17–19 June 2019 to discuss seven topics.
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IFRS Interpretations Committee meeting — 11-12 June 2019
Start: 11 Jun 2019 - End: 12 Jun 2019
The IFRS Interpretations Committee met on Tuesday 11 and Wednesday 12 June 2019.