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Accounting standards
Also, the UKEB seeks stakeholder views on IFRS 18; the IAASB publishes guidance on ISA for less complex entities.
Also, the IASB’s review of IFRS 9 determines the standard is working as intended, with further enhancements probable.
A collaboration of the IFRS Foundation and the International Finance Corporation aims to strengthen capital markets by promoting consistency in sustainability reporting.
New reports and resources from IFAC offer guidance for professional accountants to lead their organisations in this transformative era.
Also, the IASB moves to finalise practice statement revisions to support integrated reporting.
Also, the Global Reporting Initiative seeks feedback on revisions to labour standards.
Also, IFAC responds to IESBA’s ethics standards for sustainability reporting.
Also, IFAC pays tribute to AICPA & CIMA leader Barry Melancon.
Jurisdictions representing over half the global economy by GDP move towards aligning sustainability disclosure standards with those of the ISSB.
Also, the Global Reporting Initiative releases CSRD reporting guidance for companies.
Also, the UK Sustainability Disclosure Technical Advisory Committee appoints 15 members.
The IASB also proposes targeted changes to account for renewable electricity contracts with specified characteristics.
Also, the ISSB publishes sustainability taxonomy to support companies and investors.
ISSB begins work on biodiversity project; IASB starts review on accounting for intangibles.
Also, IESBA, the IAASB, and IOSCO unveil their work plans and strategies for improving corporate reporting and governance.
IESBA’s standards, set to take effect in July 2025, are intended to strengthen the ethical framework that guides professional accountants providing tax planning services.
Also, the IAASB launched a video series to help stakeholders understand the proposed changes to the fraud standard.
IFRS 18, Presentation and Disclosure in Financial Statements, is effective for annual reporting periods beginning on or after 1 January 2027.
Also, the UKEB seeks UK stakeholders’ views on a recent exposure draft from the IASB, and the EU’s new “due diligence” rules address firms’ impacts on human rights and the environment.
Here’s a roundup of recent developments in the financial reporting world, including new guidance from IFAC to support accounting in the public sector.
