The proposal would require companies to report information to help investors assess whether noncurrent liabilities with covenants could become repayable within 12 months.
The board’s amendment removes the uncertainty on whether the exemption from recognising deferred tax applies to leases and decommissioning obligations.
The proposal extends the scope of sustainability disclosures to more entities and provides greater detail on the information that should be included in sustainability reports.
The UK’s Financial Reporting Council issued advice for companies on how to report transparently and effectively when departing from parts of the UK Corporate Governance Code.
The UK government issued a set of equivalence decisions across several financial services areas for firms from EU and European Economic Area states and set out finance initiatives for greening the economy.
IFAC called for the creation of a new sustainability accounting standards board, and five global organizations committed to working together toward unified corporate reporting.
The effective date of the International Accounting Standards Board’s new accounting guidance on classification of liabilities has been delayed by one year.
