The International Accounting Standards Board (IASB) has issued an amendment to IFRS 16 Leases to make it easier for lessees to account for Covid-19-related rent concessions such as rent holidays and temporary rent reductions

The next liquidity crisis could already be here, as financial institutions grapple with expected credit losses in the wake of Covid-19, while the IASB’s interest rate benchmark reforms cannot be delayed, explains Jeroen Van Doorsselaere

The European Commission has announced a relaxation of banking accounting rules to ensure that lenders can continue to extend loans to companies struggling during the Covid-19 crisis, in a bid to ensure a coordinated EU response and avoid national fragmentation

The International Accounting Standards Board (IASB) has begun consulting on proposals to update the IFRS for SMEs standard, which include consideration of whether and how to align the simplified accounting standard for small and medium-sized entities with full IFRS standards

Accountancy firms and their clients are having to adopt alternative working methods to deal with financial year end requirements, relying on virtual meetings and IT solutions to meet deadlines in light of covid-19. Philip Smith reports 

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

The Bank of England has set out details of how the Covid Corporate Financing Facility (CCFF) will work for listed FTSE companies, which opened to new applications from 23 March

The Financial Conduct Authority (FCA) has confirmed that there will be a moratorium on the publication of all FTSE listed company preliminary financial statements for at least two weeks due to covid-19

The Bank of England and Prudential Regulation Authority (PRA) has issued initial guidance on reporting expected credit loss (ECL) estimates under IFRS 9 Financial Instruments in wake of covid-19

The International Accounting Standards Board (IASB) is seeking views on potential changes to IFRS standards regarding business acquisitions, to make it easier for investors to assess the performance of any acquisitions

The International Accounting Standards Board (IASB) has announced a further one-year deferment of the implementation date for IFRS 17 Insurance Contracts, so the effective date for the standard will now be 2023

A Financial Reporting Council (FRC) investigation has found that FTSE 250 builder Galliford Try overstated its assets by £94.3m, following errors in the way it recognised revenue on certain construction contracts

Jeroen Van Doorsselaere examines the latest developments in IFRS reporting from first year IFRS 16 Lease accounting implementation to plans for a new measure to define operating result before depreciation and amortisation (ORBDA) 

In this month’s accounting updates, Deloitte fined £1.8m over Comet administration failures, FCA to investigate M&C Saatchi accounting errors, SORP charity accounting committee membership and Brexit transition guidance for accountants

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