Accounting standards

Regulatory revisions follow amendments to company size thresholds

The FRC issued updates to standards and the financial reporting framework to help stakeholders meet reporting requirements.

IFAC finalises revisions to education standards

The UK government pushes finance system reforms; the FRC publishes its first series of resources to help SMEs navigate the audit process.

EU proposes significant changes to CSRD reporting requirements

The proposals include the removal of around 80% of companies from the scope of CSRD — described as a “backward step” by the Global Reporting Initiative.

IASB issues ‘major update’ to standard for SMEs

The updates include a revised model for revenue recognition and new requirements for business combinations, consolidations, and financial instruments.

IAASB invites feedback on finalised standard amendments

Also, the Global Reporting Initiative suggests methods for improved tax-related sustainability reporting.

Global handbook on AI safety released

The IPSASB issues amendments to specific IFRIC interpretations; the FRC launches a campaign to support SMEs in the UK.

New framework promotes ‘unified vision’ for sustainability reporting

The IAASB and IESBA’s integrated framework aims to provide a unified, global approach to meet the growing demand for trustworthy sustainability information.

FRC committee recommends use of IFRS sustainability standards in UK

The UK Sustainability Disclosure Technical Advisory Committee endorses the first two IFRS sustainability disclosure standards for use, with minor amendments proposed.

FRC publishes 3-year strategy and 2025-26 budget

Also, the IASB issues amendments to standards for reporting on nature-dependent electricity contracts.

FRC proposes revisions to pensions standard

Also, the UK government rolls out service to facilitate targeted government support for SMEs.

FRC publishes annual review of Corporate Governance Code reporting

Also, the International Public Sector Accounting Standards Board issues pronouncements on mineral resources.

IFRS publishes sustainability disclosure guidance

Also, IFAC comments on the IAASB’s recent sustainability standard.

IFRS highlights global progress on climate disclosures

Also, the IASB proposes revisions to a standard focused on measuring provisions on company balance sheets.

FRC proposes updates to UK Stewardship Code

The regulator’s consultation, following four years of analysis of reporting against the 2020 version of the code, will run until 19 February.

UK government announces AI assurance investment for businesses

Also, the FRC opens stakeholder consultation on Actuarial Standard Technical Memorandum 1.

First public sector climate standard in development

This week’s roundup opens with a request for feedback from the IPSASB on its first climate exposure draft, to enable global government responsibility on climate change.

The link between sustainability reporting and social performance

Companies committed to sustainability goals are more likely to score higher in certain social indicators, new research shows.

CIMA and Hong Kong organisation agreement focuses on career growth

The new five-year agreement is intended to widen the opportunities open to CIMA members and HKICPA members.

IFAC guide helps smaller firms monitor quality management systems

The final part of an International Federation of Accountants publication addresses the monitoring of QM systems and related remediation.

IFRS issues sustainability standard guidance

Also, the UK’s FRC announced a revised insurance sector standard.

Accounting standards

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