Large companies will be required to adopt a streamlined energy and carbon reporting (SECR) framework from April 2019 which will see them include details of energy use, carbon emissions and their energy efficiency measures in their annual report, as part of the government’s drive for business and industry to cut energy use by at least 20% by 2030

Global insurers have significantly underestimated the costs of moving toward a new accounting regulation, IFRS 17 Insurance Contracts, with more than a third now budgeting over €50m (£44.2m) for implementation, according to research from Deloitte

A revised and refreshed version of the accounting rules for the pension sector, the Pension SORP, has been released to take into account recent amendments to FRS 102. Here the Pensions Research Accounting Group (PRAG) provides a briefing note on the significant changes

The Pensions SORP  - Statement of Recommended Practice - has been updated to take account of changes to FRS 102 and various legislative amendments to pension rules. Shona Harvie, partner in the pension funds group at Crowe UK and chair of PRAG explains the key revisions effective from 2019

The government has published draft legislation requiring companies adopting IFRS 16 Leases to continue to classify leases as either financial or operating leases for the purposes of Corporate Interest Restriction (CIR) rules

Jersey has introduced new legislation designed to strengthen the Crown dependency’s capabilities to fight financial crime in response to the findings of Council of Europe’s Committee of Experts on the Evaluation of Anti-Money Laundering Measures and Financing of Terrorism (MONEYVAL) report

The Financial Reporting Council (FRC) wrote to almost half of the companies whose accounts it reviewed over the past year, raising issues about corporate reporting practice directly with their boards, according to its first public listing of the corporate reporting review (CRR) 

Rebecca Farmer, partner at EY, considers the complex accounting issues facing construction companies when applying the new lease standard, IFRS 16 Lease, offering tips and advice on dealing with control issues, specialised materials and judgment calls

The Financial Conduct Authority (FCA) has published its near final rules on the extension of the senior managers and certification regime (SM&CR) to almost all regulated firms so that firms can understand what steps they need to take to prepare for its implementation

CIPFA is consulting on plans to launch an index to provide a meaningful measure of local authority financial resilience to reassure to councils who are financially stable and prompt challenge where it may be needed

The Charity Commission plans to start working on a new Charity SORP next year and will involve representatives from regulators from Northern Ireland and Republic of Ireland for the first time

The Charity Commission is developing its current service to allow charities to update information such as details of trustees in real time using its online service, with the aim of going live later this summer, at the same time as the 2018 annual return

In this month's legal updates, experts at law firm Gateley plc on court orders rectification of agreement, NOM clauses upheld at Rock Supreme Court appeal, businesses must take reasonable steps to protect information

In this month’s roundup of developments in accounting and financial reporting, government plans to endorse IFRS and maintain FRC as regulator post-Brexit, calls for CVA overhaul to protect company creditors, potential EY ‘conflict of interest’ in Carillion inquiry

With regulation of crowdfunding being somewhat loose, Richard Tall, corporate partner at Faegre Baker Daniels, considers how the regulator, the Financial Conduct Authority (FCA), could strengthen oversight and improve governance standards