IFRS 20, a new accounting standard for companies subject to a specific type of rate regulation, aims to improve financial reporting and transparency for investors.
The changes focus on improving clarity and better articulating certain aspects of the standard. In its review of structured digital reporting, the FRC outlined improvements to financial reporting.
It has become axiomatic that companies should learn lessons from failure, and for individuals failure can also build resilience, growth, and even humility.
The new accounting standard will replace IAS 1 from January 2027 and is aimed at more consistent reporting that's better aligned with how businesses are run.
The FRC’s guidance incorporates changes to legislative and regulatory requirements, including the recent revision of the UK Corporate Governance Code.
FM’s editor-in-chief details articles in the December digital edition, including one that examines hard and soft trends and their impact on accounting and finance professionals. Listen to the podcast episode or read the Q&A.
