UKEB report on accounting for intangibles
29 Mar, 2023
The UK Endorsement Board (UKEB) has published a report ‘Accounting for Intangibles: UK Stakeholders’ Views’. It sets out stakeholder views on the accounting for intangibles under international Accounting Standards within the context of the wider economic impact of intangibles.
The report notes that economically, intangibles are an important determinant of companies’ performance and outcomes in financial markets. While there has been a significant increase in the economic value of intangibles over the last 15 years, this increase can only be inferred indirectly as many intangible items are not recognised in national or company accounts.
UK stakeholders involved in the production and use of general-purpose financial statements were interviewed for the report and highlighted concerns about current IFRS Accounting Standards. The report also identifies a range of possible enhancements to the accounting suggested by stakeholders.
Please click to access the report on the UKEB website.
