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2015

Comment deadline for Basel Committee consultation on corporate governance at banks from Jan 09, 2015 12:00 AM to Jan 09, 2015 11:55 PM London,
The Basel Committee has released proposed revised guidelines on corporate governance at banks for consultation. The proposed guidelines build on the Committee's 'Principles for enhancing corporate governance', published in 2010. Comments are due by 9 January 2015.
Comment deadline for BIS Discussion Paper on audit reform from Mar 19, 2015 12:10 AM to Mar 19, 2015 11:55 PM London,
The Department for Business Innovation & Skills (BIS) has issued a paper on audit reform. "Audit regulation - discussion document on the implications of the EU and wider reforms" proposes changes in the UK to implement the EU Audit Directive (‘the Directive’) and Audit Regulation (‘the Regulation’), as well as other changes that may be made to enhance confidence and strengthen the audit regime. The Financial Reporting Council (FRC) has also issued a consultation document on the same topic.
Comment deadline for BIS further consultation on company beneficial ownership register from Jul 16, 2015 11:05 PM to Jul 17, 2015 10:55 PM London,
The Department for Business, Innovation and Skills (BIS) has published a consultation on draft secondary regulations required to set up the new publicly accessible central register that will record company beneficial ownership information. Comments are invited until 17 July 2015.
Comment deadline for Charity Commission and OSCR consultation on revisions to Charities SORPs as a result of changes to UK Accounting Standards from Sep 17, 2015 11:05 PM to Sep 18, 2015 10:55 PM London,
The Charity Commission for England and Wales (‘Charity Commission’) and the Office of the Scottish Charity Regulator (OSCR) have published an Exposure Draft on further revisions to the Charities Statement of Recommended Practice (SORPs) as a result of changes to UK Accounting Standards that are planned to come into effect for accounting periods beginning on or after 1 January 2016. Comments are requested until 18 September 2015.
Comment deadline for CIPFA/LASAAC 2016/17 Code of Practice on Local Authority Accounting from Oct 09, 2015 12:05 AM to Oct 09, 2015 11:55 PM London,
The Chartered Institute of Public Finance and Accountancy (CIPFA) and the Local Authority (Scotland) Accounts Advisory Committee (LASAAC) are seeking comments on an exposure draft of the 2016/17 Code of Practice on Local Authority Accounting in the UK (the Code) which would apply to accounting periods beginning on or after 1 April 2016. Comments are requested by 9 October 2015.
Comment deadline for DWP consultation on changes for pension schemes from Dec 09, 2015 12:05 AM to Dec 09, 2015 11:55 PM London,
The Department for Work and Pensions (DWP) has issued a consultation on a number of changes for pension schemes to take effect from April 2016. Comments are requested by 9 December 2015.
Comment deadline for FCA consultation on changes to audit committee requirements as a result of EU audit reform from Nov 05, 2015 12:05 AM to Nov 05, 2015 10:55 PM London,
The Financial Conduct Authority (FCA) has issued a consultation paper that, among other things, proposes changes to audit committee requirements for companies with securities admitted to trading on an EEA regulated market, as a result of the UK implementation of the EU Audit Directive (2014/56/EU). The consultation follows a recent policy announcement by the Department for Business, Innovation and Skills (BIS) on the UK implementation of the EU audit reforms. Comments are invited until 5 November 2015.
Comment deadline for FRC Draft Plan & Budget and Proposed Levies for 2015/16 from Feb 16, 2015 12:15 AM to Feb 16, 2015 11:45 PM London,
The Financial Reporting Council (FRC) has published its Draft Plan & Budget and Proposed Levies for 2015/16, which represents the final year of its current three year strategic programme.
Comment deadline for FRC and Charity Commission consultation on new taxonomy for charity accounts from Dec 08, 2015 12:00 AM to Dec 08, 2015 11:55 PM London,
The Financial Reporting Council (FRC) and the Charity Commission have published a consultation on a proposed new XBRL charity accounts taxonomy to enhance the quality of financial reporting for Charities in the UK and Ireland. Comments are requested by 8 December 2015.
Comment deadline for FRC consultation on audit reform from Mar 20, 2015 12:15 AM to Mar 20, 2015 11:55 PM London,
The Financial Reporting Council (FRC) has issued a consultation document on audit reform, "Consultation: Auditing and ethical standards – Implementation of the EU Audit Directive and Audit Regulation". This, in conjunction with the Department for Business Innovation & Skills’ (BIS) discussion paper, proposes change in the UK to implement the EU Audit Directive (‘the Directive’) and Audit Regulation (‘the Regulation’), as well as other changes that may made to enhance confidence and strengthen the audit regime.
Comment deadline for FRC consultation on a new Assurance Standard over client assets from Jul 30, 2015 11:05 PM to Jul 31, 2015 10:55 PM London,
The Financial Reporting Council (FRC) has today published an exposure draft of a proposed new Assurance Standard over Client Assets. Comments are requested by 31 July 2015.
Comment deadline for FRC consultation on Audit Firm Governance Code from Aug 28, 2015 12:00 AM to Aug 28, 2015 11:55 PM London,
The UK Financial Reporting Council (FRC) has issued the findings of its review of the implementation and operation of the Audit Firm Governance Code (the Code), introduced in January 2010. As a result of this review, the FRC is seeking views on possible changes to the Code.
Comment deadline for FRC Discussion Paper on proposals to improve the quality of reporting by smaller listed and AIM-quoted companies from Jul 30, 2015 11:05 PM to Jul 31, 2015 10:55 PM London,
The Financial Reporting Council (FRC) has published a Discussion Paper on proposals to improve the quality of reporting by smaller listed and AIM-quoted companies. Comments are requested by 31 July 2015.
Comment deadline for FRC Exposure Draft on going concern for non-Code companies from Jan 15, 2016 12:05 AM to Jan 15, 2016 11:55 PM London,
The Financial Reporting Council (FRC) has published an Exposure Draft of best practice guidance on the going concern basis of accounting and reporting on solvency and liquidity risks for companies that do not apply the UK Corporate Governance Code (‘non-Code companies’). Comments are invited until 15 January 2016.
Comment deadline for FRED 61 — Draft amendments to FRS 102 – Share-based payment transactions with cash alternatives from May 31, 2015 11:05 PM to Jun 01, 2015 10:55 PM London,
The Financial Reporting Council (FRC) has published Financial Reporting Exposure Draft (FRED) 61 ‘Draft amendments to FRS 102 – Share-based payment transactions with cash alternatives’ which proposes a narrow scope amendment to clarify and simplify the accounting for share and share option awards where a cash settlement alternative exists. Comments are invited until 1 June 2015.
Comment deadline for FRED 57 from Mar 20, 2015 12:05 AM to Mar 20, 2015 11:55 PM London,
The UK Financial Reporting Council (FRC) has published an exposure draft of its second set of annual amendments to FRS 101, the Reduced Disclosure Framework available to UK qualifying entities that wish to apply the recognition and measurement requirements of IFRSs in their financial statements.
Comment deadline for FREDs 58 — 60 from Apr 29, 2015 11:05 PM to Apr 30, 2015 10:55 PM London,
In September 2014 the FRC consulted on the future of accounting standards for micro-entities, small entities and other amendments to accounting standards necessary as result of the UK implementation of the EU Accounting Directive (“the Directive”). This followed a consultation issued by the Department for Business, Innovation and Skills (BIS) on the implementation of the Directive, which sought to consolidate existing legislation on financial reporting and reduce the regulatory burden on smaller companies. Following the government response on the UK implementation of the Directive, the FRC has now issued three Financial Reporting Exposure Drafts (FREDs) for public comment which propose changes to the existing UK financial reporting framework. They are FREDs 58, 59 and 60 and comments are invited until 30 April 2015.
Comment deadline for HMRC consultation on draft regulations on country-by-country reporting from Nov 15, 2015 11:05 PM to Nov 16, 2015 10:55 PM London,
HM Revenue & Customs (HMRC) has issued a consultation on draft regulations to implement country-by-country reporting in the UK for accounting periods beginning on or after 1 January 2016. Comments are requested until 16 November 2015.
Comment deadline for HMRC consultation 'Improving Large Business Tax Compliance' from Oct 14, 2015 12:00 AM to Oct 14, 2015 11:45 PM London,
HM Revenue & Customs (HMRC) has published a consultation entitled 'Improving Large Business Tax Compliance'. Amongst other measures, the consultation proposes that large businesses should publish their tax strategy annually. It seeks views on the right medium for publication of this information, in particular whether it should be included in the annual report and accounts. Views are requested by 14 October 2015.
Comment deadline for NAO consultation on guidance for auditors of value for money audits from Sep 30, 2015 12:05 AM to Sep 30, 2015 11:55 PM London,
The National Audit Office (NAO) has published a consultation seeking views on proposed guidance to auditors in relation to their statutory duty under the Code of Audit Practice to be satisfied that audited bodies have proper arrangements in place to secure value for money in their use of resources. Comments are requested by 30 September 2015.
Comment deadline for PRA consultation on good board governance for PRA-regulated firms from Sep 13, 2015 11:05 PM to Sep 14, 2015 10:55 PM London,
The Prudential Regulation Authority (PRA) has published a consultation paper seeking views on a draft supervisory statement which looks to identify some key aspects of good board governance for boards to consider and to which the Prudential Regulation Authority (PRA) pays close attention in the conduct of its supervision. Comments are requested by 14 September 2015.
Comment deadline for PRA consultation on changes to audit committee requirements as a result of EU audit reform from Dec 18, 2015 12:05 AM to Dec 18, 2015 11:55 PM London,
The Prudential Regulation Authority (PRA) has issued a consultation paper that proposes changes to audit committee requirements for banks, building societies and insurance undertakings as a result of the UK implementation of the EU Audit Directive (2014/56/EU); specifically implementing the requirements of Article 39. The PRA has also proposed that these requirements will apply to UK designated investment firms. Comments are invited until 18 December 2015.
Comment deadline for PRA solvency II Consultation Paper (CP 16/15) from Jul 09, 2015 11:05 PM to Jul 10, 2015 10:55 PM London,
The Prudential Regulation Authority (PRA) has issued a consultation paper seeking feedback on a draft supervisory statement that sets out its expectations for firms within the scope of Solvency II wishing to recognise and value assets and liabilities under UK Generally Accepted Accounting Principles (UK GAAP) for Solvency II purposes. Comments are requested by 10 July 2015.
Comment deadline for the BIS consultation on a package of measures to implement the EU Audit Regulation and Directive from Dec 09, 2015 12:05 AM to Dec 09, 2015 11:55 PM London,
The Department for Business, Innovation and Skills (BIS) has published a consultation on measures to implement the EU Audit Directive (2014/56/EU) (‘the Directive’) and Audit Regulation (537/2014) (‘the Regulation’) in the UK as well as other changes that may be made to enhance confidence and strengthen the audit regime. Comments are requested until 9 December 2015.
Comment deadline for the Discussion Paper on rate regulation from Jan 15, 2015 01:00 AM to Jan 15, 2015 10:00 PM London,
The IASB published the discussion paper DP/2014/2 'Reporting the Financial Effects of Rate Regulation' for public comment on 17 September 2014. Comments are requested by 15 January 2015.
Comment deadline for the FRC package of measures to implement the EU Audit Regulation and Directive from Dec 11, 2015 12:00 AM to Dec 11, 2015 11:55 PM London,
The Financial Reporting Council (FRC) has issued a consultation on changes to Ethical Standards for Auditors, International Standards on Auditing (ISAs), the UK Corporate Governance Code and the Guidance on Audit Committees arising from the UK implementation of the EU Audit Regulation and Directive. Proposed changes to the latter two pronouncements also implement parts of the Competition & Markets Authority’s (CMA) final Order, providing audit committees with one place to look for guidance on the process to manage the relationship with their external auditor. Comments are requested until 11 December 2015.
Comment deadline for the ICAEW Discussion Paper on assurance over bank capital numbers from Oct 16, 2015 12:05 AM to Oct 16, 2015 11:55 PM London,
The Institute of Chartered Accountants in England and Wales (ICAEW) has published a Discussion Paper calling for auditors to be ready to provide independent assurance over bank capital numbers. The paper, which discusses the nature and extent of assurance to be provided, is the first stage in an ICAEW project to design an assurance framework for banks’ capital information. Comments are requested by 16 October 2015.
Comment deadline IFRS taxonomy 2014 interim release 3 from Feb 17, 2015 01:00 AM to Feb 17, 2015 10:00 PM London,
The IFRS Foundation published an exposure draft of the third IFRS Taxonomy 2014 Interim Release Package on 19 December 2014. The comment period ends on 17 February 2014.
Comment deadline on 2015 Constitution review from Nov 30, 2015 02:00 AM to Nov 30, 2015 10:00 PM London,
On 7 July 2015, the Trustees launched the 2015 Constitution review by publishing a Request for Views document. Comments are requested by 30 November 2015.
Comment deadline on Bank of England consultation on the interaction of the PRA with external auditors and actuaries from May 27, 2015 12:05 AM to May 27, 2015 11:55 PM London,
The Bank of England has issued a consultation paper introducing two proposals on the interaction of the Prudential Regulation Authority (PRA) with external auditors and actuaries. The consultation paper ‘CP8/15 ‘Engagement between external auditors and supervisors and commencing the PRA’s disciplinary powers over external auditors and actuaries’ is open for comment until 27 May 2015.
Comment deadline on ED/2014/4 on the unit of account for measuring investments in subsidiaries, joint ventures and associates from Jan 16, 2015 12:00 AM to Jan 16, 2015 11:55 PM London,
The International Accounting Standards Board (IASB) published ED/2014/4 'Measuring Quoted Investments in Subsidiaries, Joint Ventures and Associates at Fair Value (Proposed amendments to IFRS 10, IFRS 12, IAS 27, IAS 28 and IAS 36 and Illustrative Examples for IFRS 13)' on 16 September 2014. The proposed amendments would clarify that the unit of account for investments in subsidiaries, joint ventures and associates is the investment as a whole, and would add an additional illustrative example to IFRS 13. Comments are requested by 16 January 2015.
Comment deadline on FCA and HM Treasury consultation paper on the UK implementation of the remaining changes to the Transparency Obligations Directive from May 20, 2015 12:05 AM to May 20, 2015 11:55 PM London,
The Financial Conduct Authority (FCA) and HM Treasury have issued a joint consultation paper CP 15/11 Implementation of the Transparency Directive Amending Directive (2013/50/EU) and other Disclosure Rule and Transparency Rule Changes. Comments are invited by 20 May 2015.
Comment deadline on FCA proposed Handbook changes as a result of the 2014 UK Corporate Governance Code from Jul 04, 2015 11:05 PM to Jul 05, 2015 10:55 PM London,
The Financial Conduct Authority (FCA) has issued a consultation on various changes to its Handbook. Of those changes, the FCA is proposing changes as a result of the transposition of the 2014 UK Corporate Governance Code. Comments are invited by 5 July 2015
Comment deadline on FRC consultation on revisions to the Audit Firm Governance Code from Mar 11, 2016 12:05 AM to Mar 11, 2016 11:55 PM London,
The Financial Reporting Council (FRC) has issued a consultation on proposed revisions to the Audit Firm Governance Code. Comments are requested until 11 March 2016.
Comment deadline on FRED 56 from Jan 12, 2015 12:00 AM to Jan 12, 2015 11:55 PM London,
The Financial Reporting Council (FRC) has published FRED 56 'Draft FRS 104 Interim Financial Reporting'. These proposals set out a new standard on interim reporting for entities that apply FRS 102 in their annual financial statements. The proposed standard is based on IAS 34, the international standard on interim reporting and will replace the existing ASB Statement 'Half-yearly financial reports'. Comments are invited by 12 January 2015.
Comment deadline on Proposed IFRS Taxonomy 2015/1 from Aug 16, 2015 11:00 PM to Aug 17, 2015 09:55 PM London,
On 17 June 2015, the IFRS Foundation published “Proposed Update 1 to the IFRS Taxonomy". Comments are requested by 17 August 2015.
Comment deadline on Proposed IFRS Taxonomy 2015/2 from Oct 30, 2015 12:00 AM to Oct 30, 2015 10:55 PM London,
On 4 August 2015, the IFRS Foundation published IFRS Proposal: Taxonomy/2015/2 'IFRS Taxonomy 2015 — Common Practice'. Comments are requested by 30 October 2015.
Comment deadline on the ED of proposed amendments to IFRS 2 to clarify the classification and measurement of share-based payment transactions from Mar 25, 2015 01:00 AM to Mar 25, 2015 10:00 PM London,
The International Accounting Standards Board (IASB) published ED/2014/5 'Classification and measurement of share-based payment transactions' on 25 November 2014. Comments are requested by 25 March 2015.
Comment deadline on the IIRC draft competence matrix for Integrated Reporting from Sep 16, 2015 12:05 AM to Sep 16, 2015 11:55 PM London,
The International Integrated Reporting Council (IIRC) has released a draft matrix of competencies that it sees as essential for anyone working within an Integrated Reporting (“<IR>”) environment. Comments on the draft are requested by 16 September 2015
Comment deadlines (2015)
Comment letter deadline for ED/2015/7 from Oct 09, 2015 12:00 AM to Oct 09, 2015 09:55 PM London,
On 10 August 2015, the IASB published an Exposure Draft (ED) of proposed amendments to IFRS 10 'Consolidated Financial Statements' and IAS 28 'Investments in Associates and Joint Ventures'. The amendments aim at deferring the effective date of the September 2014 amendments to these standards indefinitely until the research project on the equity method has been concluded. Comments are requested by 9 October 2015.
Comment letter deadline for ED on clarifications to IFRS 15 from Oct 28, 2015 12:00 AM to Oct 28, 2015 10:55 PM London,
On 30 July 2015, the International Accounting Standards Board (IASB) published an Exposure Draft (ED) ED/2015/6 Clarifications to IFRS 15 (proposed amendments to IFRS 15). The amendments address three of the five topics identified (identifying performance obligations, principal versus agent considerations, and licensing) and aim at transition relief for modified contracts and completed contracts. Comments are requested by 28 October 2015.
Comment letter deadline for ED on proposed amendments to IAS 1 from Jun 10, 2015 12:05 AM to Jun 10, 2015 09:55 PM London,
The International Accounting Standards Board (IASB) has published an Exposure Draft (ED) of proposed amendments to IAS 1 Presentation of Financial Statements on 10 February 2015. Comments are requested by 10 June 2015.
Comment letter deadline for ED on proposed amendments to IAS 7 from Apr 16, 2015 11:00 PM to Apr 17, 2015 09:55 PM London,
The International Accounting Standards Board (IASB) has published an Exposure Draft (ED) of proposed amend­ments to IAS 7 'Statement of Cash Flows' on 18 December 2014. Comments are requested by 17 April 2015.
Comment letter deadline on deferring the effective date of IFRS 15 from Jul 03, 2015 01:00 AM to Jul 03, 2015 09:00 PM London,
The International Accounting Standards Board (IASB) has published an Exposure Draft (ED) of proposed amendments to IFRS 15 'Revenue from Contracts with Customers' on 19 May 2015. The amendments aim at changing the mandatory effective date of IFRS 15 from annual periods beginning on or after 1 January 2017 to annual periods beginning on or after 1 January 2018. Comments are requested by 3 July 2015.
Comment letter deadline on ED/2015/3 and ED/2015/4 from Nov 25, 2015 01:00 AM to Nov 25, 2015 10:00 PM London,
On 28 May 2015, the IASB published an Exposure Draft of its revised Conceptual Framework accompanied by an Exposure Draft aimed at updating references to the Conceptual Framework in other IASB pronouncements. Comments are requested by 25 November 2015.
Comment letter deadline on proposed changes to pension accounting from Oct 19, 2015 01:00 AM to Oct 19, 2015 10:00 PM London,
On 18 June 2015, the International Accounting Standards Board (IASB) published an Exposure Draft (ED) of proposed amendments to IAS 19 'Employee Benefits' and IFRIC 14 'IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction'. The amendments address two issues submitted to the IFRS Interpretations Committee. Comments are requested by 19 October 2015.
Comment letter deadline on Agenda consultation 2015 from Dec 31, 2015 01:00 AM to Dec 31, 2015 10:55 PM London,
On 11 August 2015, the International Accounting Standards Board (IASB) launched its second public consultation to seek broad public input on the strategic direction and overall balance of its future work programme. Comments on the consultation document are required by 31 December 2015.
Deadline for BIS consultation on deregulatory changes for LLPs and qualifying partnerships as a result of the UK implementation of the EU Accounting Directive from Dec 21, 2015 12:05 AM to Dec 21, 2015 11:55 PM London,
The Department for Business, Innovation and Skills (BIS) has issued a consultation on deregulatory changes for LLPs and qualifying partnerships as a result of the UK implementation of the EU Accounting Directive. Comments are requested by 21 December 2015.
Deadline for comments on EFRAG's draft endorsement advice on amendments regarding the application of the investment entities exception from Jun 18, 2015 11:05 PM to Jun 19, 2015 10:55 PM London,
The European Financial Reporting Advisory Group (EFRAG) has issued for comment its draft endorsement advice for the use in the EU of ‘Investment Entities: Applying the Consolidation Exception (Amendments to IFRS 10, IFRS 12 and IAS 28'. Comments are requested by 19 June 2015.
Deadline for comments on EFRAG's draft endorsement advice on amendments to IAS 1 under the Disclosure initiative from Mar 27, 2015 12:05 AM to Mar 27, 2015 11:55 PM London,
The European Financial Reporting Advisory Group (EFRAG) has issued for comment its draft endorsement advice for the use of the amendments to International Accounting Standard (IAS) 1 ‘Presentation of Financial statements’ in the European Union (EU).

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