The International Valuation Standards Council (IVSC) has launched a consultation on a proposed new standard, IVS 220 Non-Financial Liabilities, which provides guidance on valuing for goods and services rather than financial assets

The technical expert group on sustainable finance set up by the European Commission in July 2018 has published its first report on companies' disclosure of climate-related information

The latest version of the LLP SORP 2018, released in December, updates the LLP accounting rules to meet the requirements of the FRS 102 Triennial Review. James Waller, technical writer, audit and accounting at Croner-i, examines the key changes

Anne-Marie Winton, partner at ARC Pensions Law LLP, examines the pre-pack administration of publisher Johnston Press, which involved the abandoning of £109m in pension liabilities, and asks whether regulators should have greater control of this practice 

Over a third (36%) of all councils in England are at risk of financial failure in the next decade and 17% could be in crisis as early as 2021, according to research by Grant Thornton UK which examined the impact of cuts in revenue grants 

Is the Serious Fraud Office’s (SFO) decision to scale down its investigation into Rolls-Royce a well-informed move or a sign of panic? Aziz Rahman, senior partner at Rahman Ravelli, considers the SFO’s position

CFOs must seize the opportunity to drive effective enterprise risk management according to a study by the International Federation of Accountants (IFAC), which warns many organisations are failing to embrace comprehensive ways of managing risks

In this month’s roundup of accounting and reporting developments, IFRS 16 Leases effective date hits balance sheet, SEC fines Hertz Global $16m over accounting misstatement, crackdown on abuse of Scottish partnerships for money laundering

The European Financial Reporting Advisory Group (EFRAG) has issued an invitation to comment on the proposed definition of material in amendments to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors

Company reporters need to be ready for mandatory changes to the Strategic Report and the enhanced s172 Companies Act 2006 statement on directors’ duties from January 2019, explains Matt Chapman, better business reporting leader, KPMG

In the first of a two-part series on the FRS 105 micro-entity accounting regime, Anne Cowley ACA, senior technical writer at Croner-i, outlines which entities can qualify and how the rules change a company’s accounts

IFRS 16 Leases is effective for annual reporting periods beginning on or after 1 January 2019, effectively bringing leases onto the balance sheet for the first time, hitting sectors with multiple mid and long-term leases

Hertz Global Holdings has agreed to pay a $16m fine, set by the Securities and Exchange Commission (SEC), to settle a case over accounting misstatement which saw the company reduce its previously reported pre-tax income by $235m

The new regulations, which require companies explain the payments that executives receive, are effective from 1 January 2019 and apply to large UK listed companies with over 250 employees, with the first disclosures required from 2020

A review by the Charity Commission of charity’s public reporting has shown a decrease in the number that meet the basic benchmark for audit quality, the first time that such reviews have found a ‘significant deterioration’