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• UKEB publishes its Draft Endorsement Criteria Assessment on Annual Improvements to IFRS Accounting Standards - Volume 11

• 21 Oct, 2024

• The UK Endorsement Board (UKEB) has published its Draft Endorsement Criteria Assessment (DECA) which assesses whether 'Annual Improvements to IFRS Accounting Standards – Volume 11' meet the UK’s statutory requirements for adoption as set out in Statutory Instrument 2019/685.

• New and revised pronouncements as at 30 September 2024

• 03 Oct, 2024

• Our popular summary of new and revised financial and sustainability reporting requirements, updated for financial reporting periods ending on 30 September 2024. This listing can be used to perform a quick check that new financial and sustainability reporting requirements such as new and revised accounting and sustainability disclosure standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process.

• UKEB publishes its Draft Endorsement Criteria Assessment on amendments to IFRS 9 and IFRS 7

• 27 Sep, 2024

• The UK Endorsement Board (UKEB) has published its Draft Endorsement Criteria Assessment (DECA) which assesses whether 'Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)' meet the UK’s statutory requirements for adoption as set out in Statutory Instrument 2019/685.

• UKEB adopts Lack of Exchangeability (Amendments to IAS 21)

• 21 Jul, 2024

• The UK Endorsement Board (UKEB) has adopted 'Lack of Exchangeability (Amendments to IAS 21)' issued by the International Accounting Standards Board (IASB) in August 2023.

• IASB finalises volume 11 of annual improvements

• 18 Jul, 2024

• The International Accounting Standards Board (IASB) has published 'Annual Improvements to IFRS Accounting Standards — Volume 11'. It contains amendments to five standards as result of the IASB's annual improvements project. The amendments are effective for annual reporting periods beginning on or after 1 January 2026.

• New and revised pronouncements as at 30 June 2024

• 02 Jul, 2024

• Our popular summary of new and revised financial and sustainability reporting requirements, updated for financial reporting periods ending on 30 June 2024. This listing can be used to perform a quick check that new financial and sustainability reporting requirements such as new and revised accounting and sustainability disclosure standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process.

• EFRAG issues draft endorsement advice on amendments to IFRS 9 and IFRS 7

• 28 Jun, 2024

• EFRAG (formerly the European Financial Reporting Advisory Group) has issued a draft endorsement advice letter and a separate invitation to comment relating to the endorsement for use in the European Union (EU) of 'Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)' ('the Amendments').

• IASB finalises amendments regarding the classification and measurement of financial instruments

• 30 May, 2024

• The International Accounting Standards Board (IASB) has issued 'Amendments to the Classification and Measurement of Financial Instruments (Amendments to IFRS 9 and IFRS 7)' to address matters identified during the post-implementation review of the classification and measurement requirements of IFRS 9 'Financial Instruments'. The amendments are effective for reporting periods beginning on or after 1 January 2026.

• IASB issues new standard providing a reduced disclosure framework for subsidiaries

• 09 May, 2024

• The International Accounting Standards Board (IASB) has published the new standard IFRS 19 'Subsidiaries without Public Accountability: Disclosures', which permits a subsidiary to provide reduced disclosures when applying IFRS Accounting Standards in its financial statements. IFRS 19 is optional for subsidiaries that are eligible and sets out the disclosure requirements for subsidiaries that elect to apply it. The new standard is effective for reporting periods beginning on or after 1 January 2027 with earlier application permitted.

• IASB issues new standard on presentation and disclosures in financial statements

• 09 Apr, 2024

• The International Accounting Standards Board (IASB) has published its new standard IFRS 18 ‘Presentation and Disclosures in Financial Statements' that will replace IAS 1 'Presentation of Financial Statements'. The new standard is the result of the so-called primary financial statements project, aims at improving how entities communicate in their financial statements and will be effective for annual periods beginning on or after 1 January 2027.

• New and revised pronouncements as at 31 March 2024

• 05 Apr, 2024

• Our popular summary of new and revised financial and sustainability reporting requirements, updated for financial reporting periods ending on 31 March 2024. This listing can be used to perform a quick check that new financial and sustainability reporting requirements such as new and revised accounting and sustainability disclosure standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process.

• 2024 issued and annotated issued IFRS Accounting Standards now available

• 04 Apr, 2024

• The IFRS Foundation announces that the annual publication formerly known as the 'Red Book' is now available.

• FRC publishes changes to FRS 102 as part of its second periodic review of the standard

• 27 Mar, 2024

• The Financial Reporting Council (FRC) has published ‘Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs – Periodic Review 2024’ (“the Amendments”) which contains the changes to FRS 102 and other UK and Republic of Ireland financial reporting standards as a result of the second periodic review of the standard.

• UKEB publishes its Draft Endorsement Criteria Assessment on Amendments to IAS 21

• 08 Feb, 2024

• The UK Endorsement Board (UKEB) has published its Draft Endorsement Criteria Assessment (DECA) which assesses whether 'Lack of Exchangeability (Amendments to IAS 21)' issued by the International Accounting Standards Board (IASB) in August 2023 meet the UK’s statutory requirements for adoption as set out in Statutory Instrument 2019/685.

• 2024 required and annotated required IFRS Accounting Standards now available

• 25 Jan, 2024

• The IFRS Foundation announces that the annual publication formerly known as the 'Blue Book' is now available.

• EFRAG issues final endorsement advice on amendments to IAS 21

• 12 Jan, 2024

• The European Financial Reporting Advisory Group (EFRAG) has issued its final endorsement advice letter relating to the use in the European Union (EU) of 'Lack of Exchangeability (Amendments to IAS 21)' ("the Amendments").

• We comment on FRED 84 — Draft amendments to FRS 102 'Supplier finance arrangements'

• 14 Dec, 2023

• We have published our comment letter on Financial Reporting Exposure Draft (FRED) 84 'Draft amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland 'Supplier finance arrangements'.

• New and revised pronouncements as at 31 December 2023

• 11 Dec, 2023

• Our popular summary of new and revised financial and sustainability reporting requirements, updated for financial reporting periods ending on 31 December 2023. This listing can be used to perform a quick check that new financial and sustainability reporting requirements such as new and revised accounting and sustainability disclosure standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process.

• UKEB adopts amendments to IAS 7 and IFRS 7 regarding supplier finance arrangements

• 01 Dec, 2023

• The UK Endorsement Board (UKEB) has adopted 'Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)' issued by the International Accounting Standards Board (IASB) in May 2023.

• EFRAG issues endorsement advice on Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)

• 06 Oct, 2023

• The European Financial Reporting Advisory Group (EFRAG) has issued an endorsement advice letter relating to the use of 'Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)' ('the Amendments') in the European Union and European Economic Area.

• EFRAG issues draft endorsement advice on amendments to IAS 21

• 04 Oct, 2023

• The European Financial Reporting Advisory Group (EFRAG) has issued a draft endorsement advice letter and a separate invitation to comment relating to the use in the European Union (EU) of 'Lack of Exchangeability (Amendments to IAS 21)' ('the Amendments').

• New and revised pronouncements as at 30 September 2023

• 03 Oct, 2023

• Our popular summary of new and revised financial and sustainability reporting requirements, updated for financial reporting periods ending on 30 September 2023. This listing can be used to perform a quick check that new financial and sustainability reporting requirements such as new and revised accounting and sustainability disclosure standards and interpretations, and amendments to standards and interpretations, have been fully considered in the reporting close process.

• FRC publishes proposed amendments to FRS 102 regarding supplier finance arrangements

• 29 Sep, 2023

• The Financial Reporting Council (FRC) has published Financial Reporting Exposure Draft (FRED) 84 'Draft amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland – Supplier Finance arrangements ("FRED 84") which proposes to introduce new disclosure requirements to provide users of financial statements with additional information about an entity's use of supplier finance arrangements and the effect of such arrangements on the entity's financial position and cash flows.

• IASB publishes amendments to the IFRS for SMEs regarding the OECD pillar two model rules

• 29 Sep, 2023

• The International Accounting Standards Board (IASB) has published 'International Tax Reform — Pillar Two Model Rules (Amendments to the 'IFRS for SMEs' Standard)' to align the standard's requirements with similar amendments to IAS 12 'Income Taxes' issued in May 2023.

• IASB publishes amendments to IAS 21 to clarify the accounting when there is a lack of exchangeability

• 15 Aug, 2023

• The International Accounting Standards Board (IASB) has published 'Lack of Exchangeability (Amendments to IAS 21)' that contains guidance to specify when a currency is exchangeable and how to determine the exchange rate when it is not.