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All you need on UK Accounting, Reporting & Corporate Governance
  • IASB meeting (blue) Image
  • Additional IASB meeting on IBOR

    20 Aug 2019

    The IASB, which normally does not meet in August, will hold an additional meeting on 28 August to discuss feedback received on ED/2019/1 'Interest Rate Benchmark Reform (Proposed amendments to IFRS 9 and IAS 39)'. The agenda and the papers for the meeting are now available.

  • Deloitte document (mid gray) Image
  • We comment on two IASB exposure drafts

    20 Aug 2019

    We have responded to the IASB’s exposure drafts ED/2019/2 'Annual Improvements to IFRS Standards 2018–2020' and ED/2019/3 'Reference to the Conceptual Framework (Proposed amendments to IFRS 3)'.

  • IASB (International Accounting Standards Board) (blue) Image
  • Interviews with new IASB members

    08 Aug 2019

    The IASB has released two short interviews introducing Tadeu Cendon and Rika Suzuki. Mr Cendon and Ms Suzuki were appointed to the IASB board by the Trustees of the IFRS Foundation in March 2019 for terms which began on 1 July 2019.

  • ITCG (IFRS Taxonomy Consultative Group) (mid blue) Image
  • IASB seeks candidates for IFRS Taxonomy Consultative Group

    08 Aug 2019

    The IASB is seeking candidates for membership to its IFRS Taxonomy Consultative Group. The group provides an advisory and review forum for members to actively assist the IASB in the maintenance and development of the IFRS Taxonomy and related activities.

  • IVSC (International Valuation Standards Council) (lt green) Image
  • IVSC Financial Instruments Board consults on future agenda

    08 Aug 2019

    The International Valuation Standards Council (IVSC) has published a consultation document seeking feedback regarding the approach its newly established Financial Instruments Board should take, and the prioritisation of that work.

  • IIRC (International Integrated Reporting Committee) (green) Image
  • Study into the uptake of integrated reporting

    06 Aug 2019

    The International Integrated Reporting Council (IIRC) has posted to its website a study 'Integrated Reporting and the Capitals’ Diffusion'. The study quantitatively analyses integrated reporting to determine the extent of diffusion of integrated reporting, the depth of integrated reporting adoption, and the extent and nature of the disclosure of multiple capitals.

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  • Deloitte comment letter on the IASB's proposed amendments to IFRS 3 to update a reference to the Conceptual Framework Image
  • Deloitte comment letter on the IASB's proposed amendments to IFRS 3 to update a reference to the Conceptual Framework

    published 20 Aug 2019

    We agree with the proposed amendments to IFRS 3 to replace a reference to an old version of the Conceptual Framework. We also agree with the proposed addition of an exception for the recognition principles in IFRS 3 with respect to liabilities and contingent liabilities in the scope of IAS 37 and of IFRIC 21 and of the clarification of the IFRS 3 requirements for contingent assets. However, we believe that an exception to the recognition principles in IFRS 3 is also required with respect to uncertain current tax positions within the scope of IFRIC 23.

  • July Image
  • IFRS on Point — July 2019

    published 19 Aug 2019

    'IFRS on Point', published at the beginning of each month, highlights critical IFRS-related financial reporting developments.

  • Governance in brief - Auditor independence rules Image
  • Governance in brief - Auditor independence rules

    published 16 Aug 2019

    This publication explores the Financial Reporting Council’s consultation on proposed changes to auditor independence rules and limited proposed changes to UK auditing standards. The consultation proposes an implementation date for periods commencing on or after 15 December 2019, with no transitional provisions currently envisaged, meaning that many audit committees will need to move quickly to implement the changes in advance of their new financial year.

  • Need to Know - IASB proposes amendments with regard to the disclosure of accounting policies Image
  • Need to Know - IASB proposes amendments with regard to the disclosure of accounting policies

    published 09 Aug 2019

    This Need to Know addresses the proposed amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements set out in Exposure Draft ED/2019/6 Disclosure of Accounting Policies (Proposed amendments to IAS 1 and IFRS Practice Statement 2) published by the International Accounting Standards Board in August 2019.

  • IAS 34 compliance checklist 2018 Image
  • IAS 34 compliance checklist 2019

    published 05 Aug 2019

    The checklist summarises the requirements of IAS 34 'Interim Financial Reporting', formatted to allow the recording of a review of interim financial statements, with a place to indicate yes, no, or not-applicable for each item. The checklist addresses the requirements of IAS 34 as of 30 April 2019.

  • Governance in brief — IIA consultation raises the bar on internal audit Image
  • Governance in brief — IIA consultation raises the bar on internal audit

    published 26 Jul 2019

    The Institute of Internal Auditors is seeking to reinforce the role of the internal audit profession as a cornerstone of good corporate governance through the development of an Internal Audit Code of Practice. This builds on earlier work developing a similar Code of Practice for financial services firms. The draft Code aims to be regarded as a benchmark of good practice against which organisations can assess their internal audit function.

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