Accounting standards

IASB proposes taxonomy amendments to support IFRS 18

Also, the Global Reporting Initiative releases CSRD reporting guidance for companies.

New sustainability training course looks to clarify EU standards

Also, the UK Sustainability Disclosure Technical Advisory Committee appoints 15 members.

New IFRS standard looks to simplify disclosures for subsidiaries

The IASB also proposes targeted changes to account for renewable electricity contracts with specified characteristics.

IFRS and EFRAG release interoperability guidance for companies

Also, the ISSB publishes sustainability taxonomy to support companies and investors.

IFAC proposes ‘future-fit’ enhancements to education standards

ISSB begins work on biodiversity project; IASB starts review on accounting for intangibles.

IPSASB publishes proposed amendments to IFRIC interpretations

Also, IESBA, the IAASB, and IOSCO unveil their work plans and strategies for improving corporate reporting and governance.

Global ethics standards on tax planning released

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.

IFAC highlights key areas for sustainability upskilling

Also, the IAASB launched a video series to help stakeholders understand the proposed changes to the fraud standard.

New IFRS standard aims to improve corporate reporting

IFRS 18, Presentation and Disclosure in Financial Statements, is effective for annual reporting periods beginning on or after 1 January 2027.

IPSASB proposes amendments to assets standard

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.

IASB opens consultation on standard for SMEs

Here’s a roundup of recent developments in the financial reporting world, including new guidance from IFAC to support accounting in the public sector.

FRC revises accounting standards for UK, Ireland

The amendments are intended to improve financial reporting. The most significant changes apply to leases and revenue recognition.

IESBA publishes guidance in relation to PIE audits

FRC announces roundtable discussion dates for Stewardship Code review; FCA relays priority areas in the final year of its three-year strategy.

IASB’s IFRS 3 proposals aim to reduce complexity for companies, investors

An IASB board member explains proposed changes to IFRS 3, Business Combinations, how the board plans to reduce complexity in the standard’s impairment test, and next steps for finalising the standard.

US regulator adopts climate rule with worldwide impact

The Securities and Exchange Commission rule applies to listed companies and foreign private issuers. Also, the FRC issued Corporate Governance Code guidance.

IFRS Foundation publishes research on applying materiality judgements

The IASB will use the research to inform discussion on materiality. Also, the UK and France announced a new AI research partnership.

FRC seeks stakeholder views on UK Stewardship Code

The regulator’s plans for revisions begin with seeking feedback on whether the code’s principles are driving the right outcomes.

FRC opens consultation on proposed changes to actuarial standard

The regulator also issues guidance to help companies produce high-quality stewardship reports.

FRC revises actuarial standard to promote transparency

Also, new EU rules aim to help companies validate green marketing claims.

IAASB clarifies expectations in fraud-related procedures

Also, IESBA and the IAF partner to promote trust and consistency in sustainability reporting.

Accounting standards

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