Consultations

Accounting / IASB consults on IFRS 9 amendments related to IBOR reforms

The International Accounting Standards Board (IASB) is planning to amend three key accounting standards - IFRS 9 Financial Instruments, IFRS 16 Leases and the not yet issued IFRS 17 Insurance Contracts - as a result of proposed interbank lending rate (IBOR) reforms

Accounting / FCA focuses on climate change disclosures

The Financial Conduct Authority (FCA) is consulting on climate-related disclosure requirements for premium listed issuers

Accounting / IPSASB consults on revenue and transfer expenses standards

The International Public Sector Accounting Standards Board (IPSASB) is consulting on three inter-connected exposure drafts which are intended to pioneer new approaches to accounting for some of the most significant transactions of public sector entities

Accounting / SEC consults on simplified reporting disclosure

The US Securities and Exchange Commission (SEC) plans to overhaul and simplify certain corporate financial disclosure requirements

Accounting / Brydon review will see audit remit extended to fraud

A major overhaul of audit following the Brydon report will see the creation of a separate corporate auditing profession, greater focus on fraud detection during audits, and the replacement of the ‘true and fair’ concept

Accounting / BSBC consults on tougher oversight of cryptoassets

The Basel Committee on Banking Supervision (BCBS) has issued a consultation on the design of a prudential treatment for cryptoassets to improve regulatory oversight

Accounting / Accounting updates: November 2019

This month’s roundup includes FRC’s revised Stewardship Code, MPs grill auditors over Thomas Cook failure, climate change reporting, concerns raised on revenue recognition disclosures, FRC consults on future of company reports and CIPFA calls for fundamental shift in local government financial reporting

Accounting / FRC survey on future of company reports

The Financial Reporting Council (FRC) is seeking stakeholders’ views on company reports as part of a major project on the future of corporate reporting, which is aimed at shaping and improving information for all users of corporate reports, so that they are more useful

Accounting / Accounting updates: October 2019

This month’s roundup of accounting stories includes EY’s resignation from Datalex over accounting irregularities, FRC’s no-deal Brexit advice, accounting scandal-hit Goals Soccer Centre up for sale, overhaul of charity SORP committee, and EFRAG’s crypto-currency consultation

Accounting / Treasury consults on public sector financial reporting rules

The Treasury is consulting on revisions to the government financial reporting manual (FReM) to improve the quality and transparency of public sector annual reports

Accounting / Accounting filing deadlines: Sep - Dec 2019

The key accounting deadline is 30 September for annual returns for private companies for periods ending 31 December 2018, and for public companies with periods ending 31 March 2019 to be filed at Companies House, while December marks year end reporting for academy school trusts

Accounting / EFRAG launches crypto-assets research to tighten accounting rules

The European Financial Reporting Advisory Group (EFRAG) is seeking input from crypto-assets experts, as part of a research project looking to address current gaps in accounting standards

Accounting / Overhaul of charity SORP committee sees change of membership

There is to be a major overhaul of the way the charity accounting rules under the Charity SORP framework are developed with a new, smaller SORP committee, following a highly critical government review

Accounting / Accounting updates: September 2019

This month’s roundup of accounting stories includes accounting errors at Renolds and Eddie Stobart Logistics, Goals ex-CFO faces questions, Companies House updates, a university launches an app to translate financial reports, and consultations over insurance contracts, lease accounting, investment property and valuations

Accounting / IPSASB consults on public sector accounting for financial instruments

The International Public Sector Accounting Standards Board (IPSASB) is consulting on amendments to IPSAS 41, Financial Instruments to clarify how to account for a number of important categories of financial instruments that are specific to the public sector
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