July

Corporate Governance Image

Hampton-Alexander review publishes latest figures for women on boards

02 Jul, 2019

The Hampton-Alexander review has published latest figures for women on boards which indicate that “if progress matches the same gains made over the last 3 years, then FTSE 100 companies are on track to meet the 2020 target”.

Whilst the FTSE 250 companies are still behind, the latest figures also indicate that significant progress has been made and that “for the first time, the FTSE 250 could meet the 33% target for women in senior leadership positions if current progress is maintained”.

Figures published reveal:

  • FTSE 100 is at 32.1% up from 30.2%
  • FTSE 250 is at 27.5% up from 24.9%
  • FTSE 350 is at 29.1% up from 26.7%
  • There are now four FTSE 350 all-male boards.

The 2019 Hampton-Alexander report will be published in November following on from the 2018 report.

Further details are available on the BEIS website.

IASB webcast Image

IASB posts webcast on IFRS IC and IASB agenda decisions

02 Jul, 2019

In April 2019, the Trustees of the IFRS Foundation issued an updated IFRS Foundation Due Process Handbook for public comment. Clarifications regarding the role and status of agenda decisions published by the Interpretations Committee (IFRS IC) and amendments to make agenda decisions a tool for the Board were the most prominent proposed amendments.

In the context of the proposed amendments, the IASB has posted a webcast with IASB Chair Hans Hoogervorst, IASB Vice-Chair Sue Lloyd and IFRS Foundation staff member Sam Prestidge that discusses some of the main elements of due process around agenda decisions.

The 13 minute webcast can be accessed through the press release on the IASB website.

CAQ (US Center for Audit Quality) (light green) Image

Hyperinflationary economies - updated IPTF watch list available

02 Jul, 2019

IAS 29 'Financial Reporting in Hyperinflationary Economies' defines and provides general guidance for assessing whether a particular jurisdiction's economy is hyperinflationary. But the IASB does not identify specific jurisdictions. The International Practices Task Force (IPTF) of the Centre for Audit Quality (CAQ) monitors the status of 'highly inflationary' countries. The Task Force's criteria for identifying such countries are similar to those for identifying 'hyperinflationary economies' under IAS 29.

The IPTF's discussion document for the 21 May 2019 meeting is now available and states the following view of the Task Force:

Countries with three-year cumulative inflation rates exceeding 100%:

  • Angola
  • Argentina
  • Democratic Republic of Congo
  • South Sudan
  • Sudan
  • Venezuela

Countries with projected three-year cumulative inflation rates exceeding 100%:

  • Islamic Republic of Iran
  • Yemen
  • Zimbabwe

Countries where the three-year cumulative inflation rates had exceeded 100% in recent years:

There are no countries in this category for this period.

Countries with recent three-year cumulative inflation rates exceeding 100% after a spike in inflation in a discrete period:

  • Suriname

Countries with projected three-year cumulative inflation rates between 70% and 100% or with a significant (25% or more) increase in inflation during the current period

  • Liberia
  • Libya

The full list, including exact numbers, detailed explanations of the calculation of the numbers, and observations of the Task Force are available on the CAQ website. We also offer the overview of the IPTF's assessment of hyperinflationary jurisdictions at the end of our summary of IAS 29.

IPSASB (International Public Sector Accounting Standards Board) (mid gray) Image

Updated IPSAS-IFRS alignment dashboard

02 Jul, 2019

The International Public Sector Accounting Standards Board (IPSASB), which develops the of 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.

The alignment dashbord was updated for the June 2019 IPSASB meeting. It also offers a table showing for which IFRSs there is no IPSAS equivalent and whether the IPSASB intends to fill that gap.

Please click to access the updated dashboard on the IPSASB website.

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