The International AI Safety Report 2025 is intended to guide policymakers worldwide on unpredictable and rapid advancements in the artificial intelligence space, a news release from the UK government said.
The report brings together insights from 100 independent international experts, the release said.
“[It] looks to plug the gaps by building up a scientific basis of evidence to support policymakers in advancing AI safety, while the full implications of advanced AI systems are still being discovered,” the release said. “Inspired by the UN’s IPCC Report, the publication sets a new standard for scientific rigour in assessing AI safety.”
Key areas identified for further research include how rapidly capabilities will advance, how general-purpose AI models work internally, and how they can be designed to behave reliably, the release said.
The UK’s Evaluation Task Force has also published a new annex to the Magenta Book, focusing on best practice for evaluating the impact of AI evaluation methods, another release said, reflecting the challenges posed by AI and the need for tailored approaches.
“The guidance will enhance the safety and confidence with which government departments and agencies can adopt AI technologies,” the release said, “ensuring that public sector innovation keeps pace with the private sector.”
IPSASB amends specific IFRIC interpretations
The International Public Sector Accounting Standards Board (IPSASB) concluded that four of the International Financial Reporting Interpretations Committee (IFRIC) Interpretations in the scope of their narrow-scope amendments project were applicable to the public sector and has amended existing standards to incorporate new guidance, a news release said.
The publication, Amendments to IPSAS Standards: Specific IFRIC Interpretations, is the result of the IPSASB’s project that reviewed and considered seven IFRIC and Standard Interpretations Committee (SIC) Interpretations previously published by the IFRS Interpretations Committee, the release said.
In reviewing the IFRIC and SIC Interpretations, the IPSASB aimed to maintain alignment with IFRS standards, where appropriate, and identify and incorporate guidance into IPSAS standards that was applicable for governments and public sector entities and should be incorporated into IPSAS literature, the release added.
The amendments, based on those interpretations, aim to clarify the application of existing accounting principles on specific matters, the release said.
Feedback requested from IFRS, FRC stakeholders
The IFRS Foundation and the UK Financial Reporting Council (FRC) are seeking stakeholder feedback on their respective projects.
According to a news release, the IFRS Foundation is inviting stakeholders to help the Transition Plan Taskforce tailor its materials to ensure global applicability and to deliver full compatibility with the International Sustainability Standards Board (ISSB) global baseline.
Participants are expected to be familiar with disclosures about transition plans and are expected to share their views at interactive sessions, the release said. The event is 25 February, with two timeslots available. Contact the IFRS Foundation to register. The deadline for registration is 7 February.
The FRC invites stakeholders to join a webinar on Monday for insights into the feedback received during its consultation on proposed revisions to the UK Stewardship Code, a news release said. Register online.
IFRS issues climate-reporting guidance in accordance with ISSB standards
New guidance from the IFRS Foundation aims to help companies understand how to report only climate-related information, when applicable, using ISSB standards, a news release said.
The guide, Applying IFRS S1 When Reporting Only Climate-Related Disclosures in Accordance With IFRS S2, is part of the ISSB’s commitment to supporting the implementation of ISSB standards and aims to address stakeholder concerns around data availability and companies’ readiness to provide information about other sustainability-related risks and opportunities, the release said.
In response to those concerns, the ISSB also has decided to provide transition reliefs in ISSB standards, including the “climate-first” transition relief, which is the focus of this new guide, the release said. The guide aims to help companies provide decision-useful information to investors.
FRC launches SME support campaign, updates SIR reporting guidance
To help small- and medium-size entities (SMEs) in the UK access audit services and reduce reporting burdens, the FRC has launched initiatives aimed to improve their access to capital and support growth ambitions, a news release said.
The campaign will feature extensive and open engagement with stakeholders, including SMEs and their representatives, their capital providers, auditors who provide services to SMEs, and their professional bodies, the release added.
Throughout 2025, the FRC will publish material to support owners and managers of SMEs to be able to better understand auditing requirements and how they are applied to their particular businesses, the release said.
The FRC also issued new guidance following the introduction of revised UK Listing Rules by the Financial Conduct Authority in July, a news release said.
The guidance sets out the regulator’s views of how these changes interact with the standards that it issues in relation to engagements performed by reporting accountants, namely the Ethical Standard and the Standards on Investment Reporting (SIRs).
— To comment on this article or to suggest an idea for another article, contact Steph Brown at Stephanie.Brown@aicpa-cima.com.