This page helps identifies those 'hot topic' areas that are likely to be most relevant for UK reporters including other useful resources in financial reporting. This page also gives you access to our 'Stay Tuned Online' internet-based financial reporting updates aimed at helping finance teams keep up to speed with IFRSs and other financial reporting issues.
We detail below a number of hot topics likely to be of relevance to both listed and unlisted companies and groups.
|Listed companies/groups||Unlisted companies/groups (including LLPs)|
Directors' remuneration reports have changed for September 2013 year ends
New UK Corporate Governance Code requirements for periods beginning on or after 1 October 2014
FCA amendments to the Disclosure and Transparency Rules (DTR) to implement the new EU Non-Financial Reporting Directive (2014/95/EU) requirement for issuers to disclose their diversity policy in the corporate governance statement.
Changes to small company and micro-entity reporting (including FRS 105 and withdrawal of the FRSSE)
Revised SORPS to incorporate the requirements of FRS 102.
New UK GAAP (FRSs 100-104) published including revised versions of FRSs 100-102 incorporating amendments as a result of the EU Accounting Directive.
Sharman proposals on going concern. The FRC has now finalised its implementation of the recommendations of the Sharman Inquiry, with the publication of an updated version of the UK Corporate Governance Code in September 2014 and associated Guidance on Risk Management, Internal Control and Related Financial and Business Reporting. These are effective for periods commencing on or after 1 October 2014.
Strategic Report has replaced business review for periods ending on or after 30 September 2013.
Integrated reporting developments
Audit reform including mandatory rotation.
Corporate Reporting Review Annual Report 2015 highlights areas likely to pose future challenges for preparers of annual reports and accounts.
IFRS 15 Revenue from contracts with customers
IFRS 9 Financial Instruments
IASB's comprehensive project on the Conceptual Framework.
Other useful resources
Our "Other Regulatory" page provides content on various aspects of the UK Regulatory Framework, from the Financial Reporting Council (FRC) who are the authorised body to issue accounting standards to the various laws and rules to which UK companies are required to comply with. Our "standards" page contains links to our summaries, analysis, history and resources for UK GAAP (including SORPS), International Financial Reporting Standards (IFRS) and International Accounting Standards (IAS), IFRIC Interpretations, SIC Interpretations and other pronouncements issued by the International Accounting Standards Board (IASB) and its related bodies. It also includes information on the Financial Reporting Council (FRC), IFRS Foundation and the IASB and other organisations involved in financial reporting Corporate Governance developments are contained within our "Governance" page.
Below are a number of other resources on various topics that may be of interest to UK reporters:
|Specialist topics||Broader issues|
|Country-by-country reporting||Research and education|
|Islamic accounting||Global financial crisis|
|eXtensible Business Reporting Language (XBRL)|
|Public sector reporting|