Accounting

Accounting | Average 237-page annual reports criticised for repetition

The length of listed company annual reports has ballooned in size by 46% in just five years due to increased reporting requirements and repetitive commentary

30 Jan 2023

Accounting

Financial reporting

Accounting | Does ESG data need to be assured to accounting standards?

ESG or non-financial reporting is set to become the new accounting normal, but how will it affect accountants, asks Marc Lepere, co-founder of ESGgen

26 Jan 2023

Accounting

Financial reporting

Accounting | Sustainability standards due by June

Plans to release the first global sustainability standards for companies are on schedule for release by the end of June 2023

25 Jan 2023

Accounting

Financial reporting

Accounting | IESBA plans roundtables to shape sustainability plans

The International Ethics Standards Board for Accountants (IESBA) plans a series of global roundtables to help shape the development of new ethics and independence standards for sustainability reporting

17 Jan 2023

Accounting

Financial reporting

Accounting | IASB to amend IAS 12 to reflect 15% base tax rate

The International Accounting Standards Board (IASB) has proposed amendments to IAS 12 Income Taxes to reflect the introduction of the 15% global base tax rate

10 Jan 2023

Accounting

Consultations

Accounting | UKEB consults on narrow scope IFRS 16 lease change

The UK Endorsement Board (UKEB) is consulting on minor amendments to IFRS 16 Leases due to come into effect from 2024 accounting year ends

5 Jan 2023

Accounting

Consultations

Accounting | Legal updates: January 2023

Sophie Brookes and Debbie Shaw assess Paddington Bear ruling on contractual audit clause, tax liability on interim dividend payments and EU backtracks on European register of interests

3 Jan 2023

Accounting

Law and regulation

Accounting | ISSB clarifies rules on Scope 3 GHG emissions reporting

The International Sustainability Standards Board (ISSB) plans to publish a series of guidance and reliefs to support disclosure of Scope 3 GHG emissions

19 Dec 2022

Accounting

Financial reporting

Accounting | Accounting for lease and revenue recognition rule overhaul

The Financial Reporting Council (FRC) plans to update FRS 102 with changes to the accounting rules on revenue recognition and leases to take account of IFRS 15 and 16

15 Dec 2022

Accounting

UK GAAP

Consultations

Accounting | Tips and advice on preparing annual report and accounts

The Financial Reporting Council (FRC) has issued useful guidance for companies preparing annual reports stressing the importance of materiality and clarity

14 Dec 2022

Accounting

Financial reporting

Accounting | Companies need to account for nature

Companies should include the value of nature in annual accounts to help save the planet and improve sustainability

14 Dec 2022

Accounting

Financial reporting

Accounting | Companies House warning on scam emails

Companies House is warning that customers have reported a spate of suspicious emails claiming to be sent from the register

14 Dec 2022

Accounting

Financial reporting

Accounting | Dormant companies waste £600m in running costs

Businesses are wasting more than £600m each year on keeping unused dormant companies open, warns Mazars

13 Dec 2022

Accounting

Financial reporting

Accounting | FRC stresses audit focus for IFRS 17 insurance standard

The Financial Reporting Council (FRC) has written to insurance companies setting out audit priorities once IFRS 17 Insurance Contracts comes into effect from January

12 Dec 2022

Accounting

Financial reporting

IFRS

Accounting | FCA fines Metro Bank £10m for under-reporting

The Financial Conduct Authority (FCA) has fined Metro Bank plc £10,002,300 for breaching the Listing Rules by failing to account for the correct risk weighted assets (RWA) figure

12 Dec 2022

Accounting

Financial reporting

Accounting | Shining a light on intangibles reporting

Accounting for intangibles from goodwill to intellectual property rights needs to reflect the sustainable development agenda, argues Dr Janice Denoncourt, associate professor at Nottingham Law School

8 Dec 2022

Accounting

Accounting standards

Financial reporting