The Financial Reporting Council (FRC) has issued an exposure draft that proposes to extend the application period of requirements that cover the accounting treatment of temporary rent concessions occurring as a direct consequence of the Covid-19 pandemic by one year

Steve Collings FMAAT FCCA considers the implications of Covid-19 on accounting for provisions and contingencies under FRS 102 and FRS 105 

The Financial Reporting Council (FRC) is calling for views on potential changes and improvements to the UK’s main accounting framework under FRS 102 to take into account the latest reporting issues

The Financial Reporting Council (FRC) and the Financial Conduct Authority (FCA) have published updated guidance for companies and auditors to ensure high quality financial information continues to flow to users to support decision-making

The UK Endorsement Board (UKEB), the body tasked with endorsing and adopting international accounting standards now that the UK has left the EU, has officially launched

In a round-up of the biggest accounting stories of the year, we look at accounting and disclosure errors, financial and non-financial reporting standard reviews, Brexit transition planning and FRC warning on cashflow errors

Jeroen Van Doorsselaere considers environmental, social and governance (ESG) in financial statements and the importance of disclosure accuracy when reporting climate-related matters

WPP, the world’s biggest advertising group, is to restate its financial statements from 2017 to 2019, after discovering its most recently reported statutory losses were under-stated by £301m

The International Accounting Standards Board (IASB) is seeking feedback on three IFRS standards for group accounting, in order to assess their usefulness to users of financial statements, the ease of implementation and any unexpected costs of application

The Department for Business, Energy and Industrial Strategy (BEIS) has launched three consultations on reforms to Companies House, designed to improve the integrity of the information available about companies and strengthen its ability to tackle fraud

Recent tweaks to IFRS 17 Insurance Contracts have provided some much needed clarity, but there is still room for interpretation and a financial hit when insurance companies first adopt the accounting standard in 2023, warn Michael Winkler and Sunil Kansal FCA of Shasat Consulting

Ambiguities in the existing international accounting standards have resulted in a lack of transparency about the decommissioning and clean-up costs incurred by pollution-prone industries, resulting in potential liabilities for taxpayers, according to ICAS