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All you need on UK Accounting, Reporting & Corporate Governance
  • EFRAG (European Financial Reporting Advisory Group) (dk green) Image
  • EFRAG publishes pre-consultation document on IBOR ED

    31 Mar 2020

    The IASB expects to​​ issue an exposure draft on its project on the IBOR reform Phase 2 during April 2020 with a comment period of 45 days.​​ In order to maximise the period during which its constituents can comment on its draft comment, the European Financial Reporting Advisory Group (EFRAG) has now published pre-consultation document on the exposure draft.

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  • New and revised pronouncements as at 31 March 2020

    31 Mar 2020

    Our popular summary of new and revised financial reporting requirements, updated for financial reporting periods ending on 31 March 2020. This listing can be used to perform a quick check that new financial reporting requirements such as new and revised accounting standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process.

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  • Updated IPSAS-IFRS alignment dashboard

    31 Mar 2020

    The International Public Sector Accounting Standards Board (IPSASB), which develops the International Public Sector Accounting Standards (IPSAS) for financial reporting by governments and other public sector entities, has released an updated IPSAS-IFRS alignment dashboard showing how far individual IPSAS are aligned with corresponding IFRSs.

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  • CARES Act would provide optional temporary relief from CECL accounting

    30 Mar 2020

    On 27 March 2020, US President Trump signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which provides relief from certain accounting and financial reporting requirements under U.S. GAAP. However, until actions are taken by the SEC or the FASB, the provisions of the CARES Act are not amendments to US GAAP.

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  • EFRAG requests the IASB extend consultation period

    27 Mar 2020

    The EFRAG have sent a letter to the IASB requesting an extension to the public consultation phase of recent or soon-to-be issued publications due to the affects of the coronavirus disease pandemic. In addition, the EFRAG suggests the amendment to IFRS 9 (IBOR Phase 2) should be published quickly after the publication of the exposure draft in April 2020 in order to avoid any potential complications.

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  • IFRS on Point — February 2020

    published 11 Mar 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.

  • Deloitte comment letter on tentative agenda decision on IAS 38 — Presentation of player transfer payments Image
  • Deloitte comment letter on tentative agenda decision on IAS 38 — Presentation of player transfer payments

    published 14 Feb 2020

    We have commented on the IFRS Interpretations Committee's publication in the November 2019 IFRIC Update of the tentative decision not to take onto the Committee's agenda the request for clarification on the presentation of the transfer payment received by an entity in exchange for releasing a player from an employment contract, when the costs to obtain the registration rights had been recognised as an intangible asset.

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