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
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
The Basel Committee on Banking Supervision (BCBS) has issued a consultation on the design of a prudential treatment for cryptoassets to improve regulatory oversight
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
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
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
The Treasury is consulting on revisions to the government financial reporting manual (FReM) to improve the quality and transparency of public sector annual reports
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
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
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
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
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
The Financial Reporting Council (FRC) has released a draft of its proposed responses to IASB’s pre-implementation consultation on complex amendments to IFRS 17 Insurance Contracts even before the standard has been released
The US Financial Accounting Standards Board (FASB) has issued a proposed Accounting Standards Update (ASU) that would grant private companies, not-for-profit organisations, and certain small public companies additional time to implement the new standard on leases, current expected credit losses (CECL) and hedging
