Consultations

Accounting / Financial services must focus on climate change risk reporting

The Prudential Regulation Authority (PRA) says banks and insurers need to do more to manage the financial risks from climate change

Accounting / Consultation on consolidated global banking regulation standards

The Basel Committee on Banking Supervision (BCBS) is consulting on plans for a consolidated version of its global standards for the regulation and supervision of banks, with the aim of making the standards more accessible and promoting their consistent global interpretation and implementation

Accounting / Marshall: proposed amendment to IAS 37 on onerous contracts

The introduction of IFRS 15, the new revenue recognition standard, has resulted in an unexpected interpretation problem concerning partial and full provision of contracts, which requires a review of IAS 37 provisioning rules. Andrew Marshall, senior technical partner at KPMG, examines potential clashes under the current interpretation

Accounting / IAASB seeking views on extended external reporting assurance

The International Auditing and Assurance Standards Board (IAASB) is seeking feedback on progress in developing draft guidance in the first phase of a project to develop guidelines for assurance on extended external reporting (EER)

Accounting / FRC consults on sweeping changes to reporting of intangibles

The Financial Reporting Council (FRC) has launched a major review of the reporting of intangibles at companies as business moves towards a more knowledge-based economy

Accounting / FRC set to amend FRS 102 defined benefit pension rules

The Financial Reporting Council (FRC) is consulting on changes to FRS 102 to improve the accounting regime for defined benefit pensions, as well as amendments to FRS 101 to take into account IFRS 17 Insurance Contracts

Accounting / EFRAG consults on IFRS 3 amendments

The European Financial Reporting Advisory Group (EFRAG) has issued a draft endorsement advice letter relating to the endorsement for use in the EU of Definition of a Business (Amendments to IFRS 3 Business Combinations).

Accounting / Charities SORP development process out for review

The Charities SORP Committee is consulting on how best to reform the process for developing the Charities Statement of Recommended Practice (SORP), which sets the accounting framework for charities

Accounting / FRC Lab seeks participants for climate reporting project

The Financial Reporting Lab is looking for investors and companies to take part in a new project on the disclosure of climate change and workforce information

Accounting / Narrow-scope improvements to FASB leasing standard

The Financial Accounting Standards Board (FASB) is consulting on narrow-scope improvements to the new leases standard designed to reduce costs and ease implementation for financial statement preparers

Accounting / LLP accounting framework up for review

The Consultative Committee of Accountancy Bodies (CCAB) is consulting on an updated draft of the statement of recommended practice – accounting by limited liability partnerships (LLPs SORP), which is designed to ensure LLPs continue to present financial statements that are comparable with those of other entities

Accounting / FCA to consult on tighter rules for crowd-funded loans

Regulators are launching a consultation into rules for loan-based crowdfunding platforms amid concerns that some business models are too complex and do not offer adequate protection for lenders

Accounting / CIPFA plans index to measure local authority ‘financial resilience’

CIPFA is consulting on plans to launch an index to provide a meaningful measure of local authority financial resilience to reassure to councils who are financially stable and prompt challenge where it may be needed

Accounting / IASB consults on review of IAS 32 rules on equity reporting

The International Accounting Standards Board (IASB) is consulting on ways to improve the classification of financial instruments and equity in financial statements

Accounting / EU plans disclosure rules on sustainable finance investments

The European Commission is consulting on plans to adopt a set of sustainable finance measures to improve transparency about sustainable investments
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