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

The Financial Reporting Council (FRC) is consulting on minor amendments to FRS 101 Reduced Disclosure Framework as part of the 2020/21 review cycle to keep it in line with IFRS

Too many companies are still adopting a ‘box ticking’ formulaic approach to corporate governance reporting, the Financial Reporting Council (FRC) has warned

Accounting firms should be bracing themselves for a rise in professional negligence claims as a result of the Covid-19 pandemic, with clients pointing the figure when things go wrong, predicts Kingsley Napley’s Jemma Brimblecombe

The Financial Reporting Council (FRC) has criticised companies for failing to tackle ‘basic’ errors in cash flow statements and has published suggestions for improvement