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FRC publishes revisions to proposed International Standard on Auditing (UK) 505
02 Jun, 2023
The Financial Reporting Council (FRC) has published revisions to proposed International Standard on Auditing (UK) 505 - External Confirmations.
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Agenda for the June 2023 IFRS Advisory Council meeting
02 Jun, 2023
An agenda has been released for the meeting of the IFRS Advisory Council that will be held via video conference on 8 June 2023.
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Pre-meeting summaries for the June 2023 IFRS Interpretations Committee meeting
02 Jun, 2023
The IFRS Interpretations Committee (Committee) meets on 6–7 June 2023. The IFRS IC will hold discussions on two new items, one follow-up discussion on a previous matter and will input on two IASB projects.
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ISSB webcast highlights consultation on next two-year work plan
01 Jun, 2023
The ISSB technical staff recently conducted a webcast to shed light on the ongoing consultation regarding ISSB's upcoming two-year work plan. The webcast aims to engage stakeholders and gather valuable insights for the future agenda of the board.
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Updated IASB and ISSB work plan — Analysis (May 2023)
01 Jun, 2023
Following the IASB's and ISSB's May 2023 meetings, we have analysed the work plan on the IFRS Foundation website to see what changes have resulted from the meetings and other developments since the work plan was last revised in April 2023.
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IASB publishes proposed amendments to the IFRS for SMEs regarding the OECD pillar two model rules
01 Jun, 2023
The International Accounting Standards Board (IASB) has published an exposure draft 'International Tax Reform — Pillar Two Model Rules (Proposed amendments to the 'IFRS for SMEs' Standard)' to align the standard's requirements with similar amendments to IAS 12 'Income Taxes' issued last month. Comments are requested by 17 July 2023.
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May 2023 IASB meeting notes posted
31 May, 2023
The IASB met in London on 22–24 May 2023. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.
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IASB issues podcast on latest Board developments (May 2023)
30 May, 2023
The IASB has released a podcast featuring IASB Chair Andreas Barckow and Executive Technical Director Nili Shah discussing deliberations at the May 2023 IASB meetings.
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June 2023 IFRS Interpretations Committee meeting agenda posted
30 May, 2023
The IFRS Interpretations Committee has posted the agenda for its next meeting, which will be held on 6–7 June 2023.
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IASB publishes second request for information on the post-implementation review of IFRS 9
30 May, 2023
The International Accounting Standards Board (IASB) has issued a request for information (RFI) seeking comments from stakeholders to identify whether the impairment requirements in IFRS 9 'Financial Instruments' provide information that is useful to users of financial statements; whether there are requirements that are difficult to implement and may prevent the consistent implementation of the standard; and whether unexpected costs have arisen in connection with applying or enforcing the standard.
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Due Process Oversight Committee hold May 2023 meetings
31 May, 2023
The Due Process Oversight Committee (DPOC) met on 4 May 2023 via video conference. A summary of the meeting is now available.
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EFRAG and ISSB announce joint outreach event on ISSB’s RFI on its Agenda consultation and International Applicability of SASB Standards.
26 May, 2023
The European Financial Reporting Advisory Group (EFRAG) and the International Sustainability Standards Board (ISSB) will host a joint outreach event on 15 June 2023.
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EFRAG seeks input to an academic study on the effects of the adoptions of IFRS 15 Revenue from Contracts with Customers on management control systems.
26 May, 2023
The European Financial Reporting Advisory Group (EFRAG) has launched a survey to seek input from preparers to an academic study on the effects of the adoptions of IFRS 15 'Revenue from Contracts with Customers' on management control systems.
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Updated IPSAS-IFRS alignment dashboard
17 May, 2023
The International Public Sector Accounting Standards Board (IPSASB), which develops the 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.
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Summary of the March 2023 CMAC meeting
16 May, 2023
Representatives from the International Accounting Standards Board (IASB) met with the Capital Markets Advisory Council (CMAC) in a hybrid meeting on 9 March 2023. Notes from the meeting have now been released.
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Webcast on the equity method project
16 May, 2023
Following its recent decision to move the equity method of accounting project from the research agenda to the standard-setting agenda, the IASB has released a webcast offering some background on the project.
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Agenda papers available for the UK Endorsement Board Public Board Meeting on 18 May 2023
12 May, 2023
The meeting agenda and papers for the UK Endorsement Board (UKEB) public Board meeting on 18 May 2023 are available.
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Online workshop on the post-implementation review of IFRS 9
11 May, 2023
On 30 June 2023, the International Accounting Standards Board (IASB), the European Acounting Association (EAA), and the European Financial Reporting Advisory Group (EFRAG) will offer a joint virtual research workshop.
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Report on the April 2023 IFRS Advisory Council meeting
10 May, 2023
A summary report has been released of the meeting of the IFRS Advisory Council held in London on 4–5 April 2023.
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IPSASB guidance on sustainability programme information
10 May, 2023
In light of the urgent need for sustainability reporting guidance for the public sector, the International Public Sector Accounting Standards Board (IPSASB) has issued 'Reporting Sustainability Program Information — Amendments to RPGs 1 and 3: Additional Non-Authoritative Guidance'.
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Deloitte comment letter on TNFD Beta Framework
published 02 Jun, 2023
We have commented on the Taskforce on Nature-related Financial Disclosures (TNFD) – Feedback on v0.4 of the TNFD Beta Framework.
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Need to know — ISSB seeks feedback on its agenda priorities
published 01 Jun, 2023
This Need to know outlines the contents of the Request for Information (RFI) Consultation on Agenda Priorities, published by the International Sustainability Standards Board (ISSB) in May 2023.
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EFRAG endorsement status report 30 May 2023
published 30 May, 2023
The endorsement status report has been updated to reflect that the IASB has published amendments to IAS 7 and IFRS 7 (adds disclosure requirements, and ‘signposts’ within existing disclosure requirements, that ask entities to provide qualitative and quantitative information about supplier finance arrangements) and IAS 12 (addressed to stakeholders’ concerns about the potential implications of the imminent implementation of the OECD pillar two model rules on the accounting for income taxes).
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Deloitte comment letter on FRED 83 — Draft amendments to FRS 102 and FRS 101 'International tax reform – Pillar Two model rules'
published 25 May, 2023
We have published our comment letter on Financial Reporting Exposure Draft (FRED) 83 'Draft amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and FRS 101 Reduced Disclosure Framework International tax reform – Pillar Two model rules'.
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Corporate Governance Disclosure Checklist (For periods commencing on or after 1 April 2022)
published 25 May, 2023
This checklist produced by Deloitte (UK) sets out the key disclosure requirements under the Listing Rules, the Disclosure Guidelines and Transparency Rules on audit committees and corporate governance statements, the 2018 UK Corporate Governance Code, the FRC’s Guidance on Risk Management and Internal Control and Related Financial and Business Reporting, the 2016 version of the FRC’s Guidance on Audit Committees, the 2018 version of the FRC’s Guidance on Board Effectiveness and the Statutory Audit Services for Large Companies Market Investigation (Mandatory Use of Competitive Tender Processes and Audit Committee Responsibilities) Order 2014. The checklist has been updated to reflect the new diversity requirements in the Listing Rules and the DTR for periods commencing on or after 1 April 2022.
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Need to know — ISSB proposes methodology for enhancing the international applicability of the SASB Standards
published 23 May, 2023
This Need to know outlines Exposure Draft ISSB/ED/2023/1 'Methodology for Enhancing the International Applicability of the SASB Standards and SASB Standards Taxonomy Updates' published by the International Sustainability Standards Board (ISSB) in May 2023.
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Deloitte comment letter on tentative agenda decision on homes and home loans provided to employees
published 18 May, 2023
We have commented on the IFRS Interpretations Committee's publication in the March 2023 IFRIC Update of the tentative agenda decision not to take onto the Committee’s agenda the request about how an entity accounts for employee home ownership plans and employee home loans.
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Deloitte comment letter on tentative agenda decision on guarantee over a derivative contract
published 18 May, 2023
We have commented on the IFRS Interpretations Committee's publication in the March 2023 IFRIC Update of the tentative agenda decision not to take onto the Committee’s agenda the request about whether, in applying IFRS 9, an entity accounts for a guarantee written over a derivative contract as a financial guarantee contract or a derivative.
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Deloitte comment letter on tentative agenda decision on premiums receivable from an intermediary
published 18 May, 2023
We have commented on the IFRS Interpretations Committee's publication in the March 2023 IFRIC Update of the tentative agenda decision (TAD) not to take onto the Committee’s agenda the request about how an entity that issues insurance contracts (insurer) applies the requirements in IFRS 17 and IFRS 9 to premiums receivable from an intermediary.
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Need to know — UK government publishes Green Finance Strategy – Mobilising green investment
published 16 May, 2023
This Need to know discusses the UK government’s Green Finance Strategy - Mobilising green investment, published in March 2023.
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IFRS Interpretations Committee meeting — 6–7 June 2023
Start: 06 Jun, 2023 - End: 07 Jun, 2023
The IFRS Interpretations Committee will meet on 6–7 June 2023.
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IASB Meeting — 22–24 May 2023
Start: 22 May, 2023 - End: 24 May, 2023
The IASB met in its offices in London on 22–24 May 2023.
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ISSB Meeting — 18 May 2023
Start: 18 May, 2023 - End: 18 May, 2023
The ISSB met on 18 May 2023 in London.
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IASB Meeting — 3 May 2023 (Supplementary)
Start: 03 May, 2023 - End: 03 May, 2023
The IASB met in a hybrid format on 3 May 2023.
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IASB Meeting — 25–27 April 2023
Start: 25 Apr, 2023 - End: 27 Apr, 2023
The IASB met in its offices in London on 25–27 April 2023.
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ISSB Meeting — 19 April 2023
Start: 19 Apr, 2023 - End: 19 Apr, 2023
The ISSB met on 19 April 2023 in Frankfurt.
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IASB Meeting — 11 April 2023 (Supplementary)
Start: 11 Apr, 2023 - End: 11 Apr, 2023
The IASB met virtually on 11 April 2023.
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ISSB Meeting — 4 April 2023 (Supplementary)
Start: 04 Apr, 2023 - End: 04 Apr, 2023
The ISSB met on 4 April 2023 via video conference.
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IASB Meeting — 20–23 March 2023
Start: 20 Mar, 2023 - End: 23 Mar, 2023
The IASB met in its offices in London on 20–23 March 2023.
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ISSB Meeting — 16 March 2023
Start: 16 Mar, 2023 - End: 16 Mar, 2023
The ISSB met on 16 March 2023.