All you need on UK Accounting, Reporting & Corporate Governance
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  • May 2024 IASB meeting notes posted

    30 May, 2024

    The IASB met in London on 20 and 22 May 2024. We have posted our comprehensive Deloitte observer notes for all projects discussed during the meeting.

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  • 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.

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  • IASB issues podcast on latest Board developments (May 2024)

    29 May, 2024

    The IASB has released a podcast hosted by Executive Technical Director Nili Shah featuring IASB Vice-Chair Linda Mezon-Hutter and IASB Member Nick Anderson discussing the deliberations held during the May 2024 IASB meeting.

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    ISSB (International Sustainability Standards Board) (blue) Image

  • Updated IASB and ISSB work plan — Analysis (May 2024)

    28 May, 2024

    Following the IASB and ISSB meetings this month, 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 2024. Several pronouncements and consultation documents have been published or will be published shortly.

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  • Major economies advance towards unified sustainability standards

    28 May, 2024

    During the IOSCO annual meeting in Athens, the IFRS Foundation unveiled its inaugural Jurisdiction Guide to assist regulators in implementing the ISSB Standards. The guide aims to help jurisdictions navigate their adoption or alignment processes, ensuring consistent and comparable sustainability-related disclosures across markets.

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  • ESMA publishes 29th enforcement decisions report

    27 May, 2024

    The European Securities and Markets Authority (ESMA) has published further extracts from its confidential database of enforcement decisions taken by European national enforcers. This batch deals with decisions in relation to IAS 28, IAS 24, IAS 34/IAS36/IFRS13, IFRS 9, and IFRS 13.

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  • ACCA publishes sustainability reporting guide for SMEs based on ISSB standards

    30 May, 2024

    The Association of Chartered Certified Accountants (ACCA) has published a document titled 'Sustainability Reporting—SME Guide'. The guide is intended to support small- and medium-sized entities (SMEs) to disclose sustainability-related information that regulators and stakeholders increasingly demand.

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  • 120 signatories call for commitment from jurisdictions to adopt the ISSB standards

    22 May, 2024

    120 investors, companies, industry associations and stock exchanges have signed a call for commitment from relevant authorities across jurisdictions to adopt the ISSB standards. The endorsed statement was developed jointly by the London Stock Exchange Group (LSEG), the Principles for Responsible Investment (PRI), the United Nations Sustainable Stock Exchanges initiative (UN SSE) and the World Business Council for Sustainable Development (WBCSD).

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  • ISSB publishes webcasts on current and anticipated effects

    22 May, 2024

    The International Sustainability Standards Board (ISSB) has published two webcasts on the disclosure requirements related to current and anticipated effects of sustainability-related risks and opportunities on an entity's financial position, financial performance and cash flows.

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  • IASB webcast on power purchase agreements

    22 May, 2024

    The IASB has released a webcast on its exposure draft IASB/ED/2024/3 'Contracts for Renewable Electricity (Proposed amendments to IFRS 9 and IFRS 7)'.

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  • Summary of the April 2024 SCC meeting

    21 May, 2024

    The Sustainability Consultative Committe (SCC) met via video conference call on 29 April 2024. A summary of the meeting is now available.

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  • EFRAG endorsement status report 27 May 2024

    published 27 May, 2024

    The endorsement status report has been updated to now also reflect that the IASB has issued IFRS 19 'Subsidiaries without Public Accountability: Disclosures'. However, a footnote indicates that EFRAG has yet to receive the request for endorsement advice from the European Commission.

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  • Corporate Reporting Insights — Diversity and Inclusion: Are companies achieving the targets in the new Listing Rule?

    published 26 May, 2024

    Society is demanding progress on many social issues and expects businesses to reflect this. Regulators are responding, setting out expectations for greater transparency. One of these key issues is diversity and inclusion, where the Financial Conduct Authority (FCA) recently introduced a requirement for listed companies to provide disclosures on board and executive management diversity. The disclosures were mandatory for the first time for December reporters for their 2023 annual reports. So, how are companies measuring up to society’s and the regulator’s expectations? Explore our new Corporate Reporting Insights (CRI) report on Diversity and Inclusion to find out.

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  • Governance in focus — Risk, controls and assurance: a framework for the new material controls declaration

    published 22 May, 2024

    On 22 January 2024, the Financial Reporting Council (FRC) issued the much anticipated updated UK Corporate Governance Code (“the Code”) following a consultation last year as part of the ‘Restoring trust in audit and corporate governance’ reform package. With the ultimate aim of strengthening board accountability for the effectiveness of the risk and internal control framework, under the revised Provision 29, boards will be required to provide a declaration of effectiveness of the material controls as at the balance sheet date for accounting periods commencing on or after 1 January 2026.

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  • Need to know — Amendments to FRS 102 - Periodic review 2024

    published 22 May, 2024

    This 'Need to know' outlines the amendments to FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', and to other UK financial reporting standards, published by the Financial Reporting Council (FRC) in March 2024 as part of its periodic review of the UK financial reporting framework.

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  • EFRAG endorsement status report 17 May 2024

    published 17 May, 2024

    The endorsement status report has been updated to reflect that European Union has endorsed 'Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)' issued by the IASB in May 2023.

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  • IFRS on Point — April 2024

    published 07 May, 2024

    'IFRS on Point' highlights critical financial and sustainability reporting developments and main IFRS-related news stories of the previous month.

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  • Need to know — FRC amends FRS 102 to address supplier finance arrangements

    published 26 Apr, 2024

    This Need to know outlines the amendments to FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' in relation to Section 7 'Statement of Cash Flows', published by the Financial Reporting Council (FRC) in March 2024 to introduce disclosure requirements regarding supplier finance arrangements.

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    • ISSB Meeting — 25 January 2024

      Start: 25 Jan, 2024 - End: 25 Jan, 2024

      The ISSB held a joint meeting with the IASB in its offices in London on 25 January 2024.

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