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All you need on UK Accounting, Reporting & Corporate Governance
  • IASB document (blue) Image
  • IASB proposes amendments to IAS 7 and IFRS 7 regarding supplier finance arrangements

    26 Nov 2021

    The International Accounting Standards Board (IASB) has published the exposure draft 'Supplier Finance Arrangements (Proposed amendments to IAS 7 and IFRS 7)' to add disclosure requirements, and ‘signposts’ within existing disclosure requirements, that would ask entities to provide qualitative and quantitative information about supplier finance arrangements. The deadline for submitting comments is 28 March 2022.

  • ICAEW (Institute of Chartered Accountants in England and Wales) (lt green) Image
  • ICAEW concludes series on IPSAS vs IFRS

    26 Nov 2021

    Over the recent months, the Institute of Chartered Accountants in England and Wales (ICAEW) published a series of reviews of major standards looking at the differences between International Financial Reporting Standards (IFRS) and International Public Sector Accounting Standards (IPSASB), and the suitability of each in public sector financial reporting. The fourth and final part of the series has now been released.

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  • EBA report on IFRS 9 implementation

    25 Nov 2021

    The European Banking Authority (EBA) has published a report summarising the findings arising from the monitoring activities on the IFRS 9 implementation by EU institutions. EBA notes significant efforts in IFRS 9 implementation by EU institutions, but cautions on some of the observed accounting practices, especially in the context of the COVID-19 pandemic.

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  • Agenda for the December 2021 ASAF meeting

    23 Nov 2021

    The International Accounting Standards Board (IASB) has released an agenda and meeting papers for the meeting of the Accounting Standards Advisory Forum (ASAF), which is to be held by remote participation on 9-10 December 2021. A summary of the agenda is set out below:

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  • November 2021 IASB meeting notes posted

    23 Nov 2021

    The IASB met in London on Monday, Tuesday and Friday of the week beginning 15 November 2021. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

  • IASB (International Accounting Standards Board) (blue) Image
  • Updated IASB work plan — Analysis (November 2021)

    23 Nov 2021

    Following the IASB's November 2021 meeting, we have analysed the IASB work plan to see what changes have resulted from the meetings and other developments since the work plan was last revised in October 2021.

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  • EFRAG endorsement status report 23 November 2021 Image
  • EFRAG endorsement status report 23 November 2021

    published 23 Nov 2021

    The endorsement status report has been updated to reflect that the European Union has formally adopted IFRS 17 'Insurance Contracts' and the June 2020 amendments to IFRS 17 with the same effective date as the IASB (1 January 2023). However, the regulation provides an optional exemption from applying the annual cohort requirement that relates to the timing of the recognition of the profit in the contract, the contractual service margin, in profit or loss.

  • Purpose-driven Business Reporting in Focus — IFRS Foundation creates new board to set global sustainability standards Image
  • Purpose-driven Business Reporting in Focus — IFRS Foundation creates new board to set global sustainability standards

    published 10 Nov 2021

    This edition of Purpose-driven Business Reporting in Focus discusses the IFRS Foundation’s (IFRSF) establishment of the International Sustainability Standards Board (ISSB) and explains the work programme of the IFRSF Technical Readiness Working Group. It also summarises two Prototypes on climate-related disclosure and general requirements that have been published by the IFRSF and sets out next steps, including considerations for companies and UK implications.

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  • IFRS on Point — October 2021

    published 08 Nov 2021

    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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