IFRS

Accounting / FRC highlights ‘basic’ cash flow errors in corporate reporting

The Financial Reporting Council (FRC) has criticised companies for failing to tackle ‘basic’ errors in cash flow statements and has published suggestions for improvement

Accounting / Accounting for Brexit part 4: Considerations for companies and directors

In the fourth and final article on the impact of Brexit on audit and accounting, David Duvall MA FCA, Susan Singleton LLB and Fawn Beddows examine some of the key changes that will affect businesses trading in the EU market from 1 January 2021

Accounting / FRC outlines expectations for 2020/21 reporting

The Financial Reporting Council (FRC) has published its annual letter setting out its reporting expectations for preparers of reports and accounts for the year ahead

Accounting / International reporting: financial institutions post Covid

In October’s international accounting update, Jeroen Van Doorsselaere considers the impact of Covid-19 on financial institutions and how environmental, social and governance criteria could provide an answer

Accounting / Accounting for Brexit part 3: impact for auditors

In the third article of a series on the impact of Brexit on audit and accounting, Croner-i writer David Duvall FCA sets out the key changes for auditors from January 2021

Accounting / FRC endorses push to global sustainability standards

The Financial Reporting Council (FRC) is calling for improvements in corporate reporting on climate change issues, and has signalled its support along with other UK regulators for the IFRS Foundation’s work on developing a global approach to sustainability reporting

Accounting / Accounting for Brexit Part 2: large and listed entities

In the second article of a series on the impact of Brexit on audit and accounting, Croner-i writers David Duvall, Steve Collings and Rachel Farris examine the impact of Brexit regulations on reporting for larger entities

Accounting / FRC issues three amendments to standards

The Financial Reporting Council (FRC) has issued three sets of amendments to UK and Ireland accounting and reporting standards, designed to address some topical issues, and maintain a necessary alignment with international standards

Accounting / International reporting: IFRS 16 ‘sweep’ issues

In October’s international accounting update, Jeroen Van Doorsselaere considers the so-called ‘sweep’ issue of IFRS 16, ongoing discussions around the all-important management commentary and Phase 2 of the interest rate benchmark reforms

Accounting / FRC advice to make Section 172 statements useful

The Financial Reporting Council (FRC) Lab has published a set of tips to help companies with preparing the Section 172 statement reflecting the board’s consideration of stakeholders in pursuit of the success of the company, after speaking to institutional and retail investors and other stakeholders about what they consider useful reporting

Accounting / IFRS Foundation consults on sustainability standards development

The IFRS Foundation trustees are exploring whether, and how, the global accounting standards body might become involved in developing global sustainability standards, given the heightened focus on environmental, social and governance (ESG) matters worldwide

Accounting / IFRS Foundation to look at sustainability reporting

Disclosures on climate-change related issues will become much more prevalent than currently is the case, and IFRS reporting has an important role to play in improving transparency around sustainability issues, according to International Accounting Standard Board (IASB) chair Hans Hoogervorst

Accounting / FRC seeks revenue and leases reporting improvements

The Financial Reporting Council (FRC) is warning companies they need to improve their reporting of revenue and leases, after reviewing a sample of disclosures in annual and interim reports

Accounting / International reporting: forward-looking financial statements

In September’s international accounting updates, Jeroen Van Doorsselaere considers what lies ahead for CFOs and asks whether they now need to be a jack of all trades

Accounting / Plan to create unified sustainability reporting standards

Five global organisations specialising in sustainability and integrated reporting frameworks and standards have declared their intention to work together to create a comprehensive approach to corporate reporting
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