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CIPFA/LASAAC consult on changes to the Code of Practice on Local Authority Accounting in relation to accounting for secure housing tenancies and COVID-19-related rent concessions
19 Jan 2021
The Chartered Institute of Public Finance and Accountancy (CIPFA) and the Local Authority (Scotland) Accounts Advisory Committee (LASAAC) are seeking comments on proposed changes to the Code of Practice on Local Authority Accounting in relation to accounting for secure housing tenancies and COVID-19-related rent concessions.
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IIRC publishes revised Framework
19 Jan 2021
The International Integrated Reporting Council (IIRC) has published revisions to the International <IR> Framework, originally released in 2013, to enable more decision-useful reporting.
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IASB announces webinar on discussion paper on business combinations under common control
18 Jan 2021
On 30 November 2020, the International Accounting Standards Board (IASB) published a discussion paper DP/2020/2 'Business Combinations under Common Control'. The IASB has now announced a live webinar that will provide an overview of the discussion paper, explain the Board’s preliminary views and give the viewers an opportunity to ask questions.
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IPSASB consultation documents on leases
18 Jan 2021
The International Public Sector Accounting Standards Board (IPSASB) has released an exposure draft on leases and a request for information on concessionary leases and other arrangements similar to leases.
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January 2021 IASB meeting agenda posted
15 Jan 2021
The IASB has posted the agenda for its next meeting, which will be held via video conference on 26 January 2021.
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Deloitte launches enhanced IFRS e-learning website
15 Jan 2021
We are pleased to announce a major redesign to our IFRS e-learning platform. The site allows external users to complete over 40 of Deloitte’s IFRS e-learnings free of charge with 6 million+ uses in recent years.
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Educational material on going concern requirements
13 Jan 2021
The IFRS Foundation has issued educational material, 'Going concern — a focus on disclosure', which intends to supports companies in its implementation of the requirements related to the preparation of financial statements using IFRS Standards on a going concern basis.
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Appointment to the IFRS Advisory Council
13 Jan 2021
The Trustees of the IFRS Foundation have announced an additional appointment to the IFRS Advisory Council effective 1 January 2021.
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Academics and the post-implementation reviews of IFRS 9, IFRS 15, and IFRS 16
12 Jan 2021
The IFRS Foundation is offering three webinars aimed at identifying how academics can contribute to the post-implementation reviews of IFRS 9 'Financial Instruments', IFRS 15 'Revenue from Contracts with Customers', and IFRS 16 'Leases'.
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FRC releases podcast reflecting on the FInancial Reporting Lab's work in 2020
08 Jan 2021
The Financial Reporting Council (FRC) has released a podcast which reflects upon the work of the Financial Reporting Lab (the Lab) in 2020.
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IFRS on Point — December 2020
published 18 Jan 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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EFRAG endorsement status report 14 January 2021
published 14 Jan 2021
The endorsement status report has been updated to reflect that the European Union has formally adopted 'Interest Rate Benchmark Reform — Phase 2 (Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16)' published by the IASB in August 2020.
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Purpose-driven Business Reporting in Focus — New Prototype Climate-related Financial Disclosure Standard — accelerating progress towards global sustainability standards
published 22 Dec 2020
This issue discusses the new Prototype Climate-related Financial Disclosure Standard which was published by leading international standard-setters.
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Deloitte comment letter on the SASB's proposed conceptual framework and rules of procedure
published 21 Dec 2020
We have commented on the SASB’s exposure draft 'Proposed Changes to the SASB Conceptual Framework and Rules of Procedure'.
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Deloitte comment letter on discussion paper on goodwill
published 21 Dec 2020
We support the Board’s initiative to assess whether information provided to investors on business combinations can be improved, including by setting clearer disclosure objectives. However, we are not convinced that the proposals in the discussion paper would result in disclosures that provide more useful information to users of the financial statements. Also, we do not support the preliminary view of the Board not to reintroduce amortisation of goodwill. Finally, without the reintroduction of goodwill amortisation, we strongly diagree with the proposal to remove the requirement to perform a quantitative impairment test every year.
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EFRAG endorsement status report 16 December 2020
published 16 Dec 2020
The endorsement status report has been updated to reflect that the European Union has formally adopted 'Extension of the Temporary Exemption from Applying IFRS 9 (Amendments to IFRS 4)' published by the IASB in June 2020.
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Governance in focus — Audit Committee effectiveness – 2020 framework
published 15 Dec 2020
The work of the audit committee has never been more important: investors, other stakeholders and regulators demand ever more informative and reliable reporting, not just of the results and financial position, but of strategy, resilience, long term value creation, of values, of a company’s role in climate change, not to mention the community and the whole public interest agenda. This 2020 edition of Deloitte’s Audit Committee Effectiveness Framework both reflects current expectations and addresses the likely direction of travel to emerge from the 2021 consultations on corporate reporting and audit reform.
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Need to Know — IASB seeks information on its post-implementation review of IFRS 10, IFRS 11 and IFRS 12
published 15 Dec 2020
This Need to know addresses the IASB's recent request for information titled ‘Post-implementation Review of IFRS 10 'Consolidated Financial Statements' IFRS 11 'Joint Arrangements' and IFRS 12 'Disclosure of Interests in Other Entities'’. The focus of the request for information is to obtain views to assess the effect of the requirements on investors, preparers and auditors.
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Governance in focus — On the board agenda 2021
published 10 Dec 2020
As 2020 draws to a close, our annual review of board topics will stimulate your thinking and help prepare you for the year ahead.
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Accounting Roundup - Closing Out 2020
published 10 Dec 2020
Closing Out 2020 discusses the significant corporate reporting issues relevant to 31 December 2020 annual reports, covering areas of regulatory focus identified in the FRC's annual review of corporate reporting 2019/20, issues arising from the COVID-19 pandemic and the current economic environment and developments in reporting standards and areas of investor interest.
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IASB Meeting — 26 January 2021
Start: 26 Jan 2021 - End: 26 Jan 2021
The IASB will meet via video conference on 26 January 2021.
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IASB Meeting — 14–16 December 2020
Start: 14 Dec 2020 - End: 16 Dec 2020
The IASB will meet via video conference on 14–16 December 2020.
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IFRS Interpretations Committee meeting — 1-2 December 2020
Start: 01 Dec 2020 - End: 02 Dec 2020
The IFRS Interpretations Committee met via video conference on Tuesday and Wednesday 1-2 December 2020.
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IASB Meeting — 18–19 November 2020
Start: 18 Nov 2020 - End: 19 Nov 2020
The IASB met via video conference on 18–19 November 2020. The second day of the meeting was a joint education session with the FASB.
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IASB Meeting — 27–29 October 2020
Start: 27 Oct 2020 - End: 29 Oct 2020
The IASB will meet via video conference on 27–29 October 2020.
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IASB Meeting — 22–23 September 2020
Start: 22 Sep 2020 - End: 23 Sep 2020
The IASB met via video conference on 22–23 September 2020.
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IFRS Interpretations Committee meeting — 15 September 2020
Start: 15 Sep 2020 - End: 15 Sep 2020
The IFRS Interpretations Committee met via video conference on Tuesday 15 September 2020.
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IFRS Interpretations Committee meeting — 15 September 2020
Start: 15 Sep 2020 - End: 15 Sep 2020
The IFRS Interpretations Committee met via video conference on Tuesday 15 September 2020.
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IASB Meeting — 22–23 July 2020
Start: 22 Jul 2020 - End: 23 Jul 2020
The IASB met via video conference on 22–23 July 2020.
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IASB Meeting — 23–25 June 2020
Start: 23 Jun 2020 - End: 25 Jun 2020
The IASB met via video conference on 23–25 June 2020.