Accounting standards

IESBA opens consultation on global sustainability standards

IPSASB issues exposure drafts on accounting for natural resources; FRC releases guidance for companies’ applying the revised Corporate Governance Code.

UK December public sector borrowing falls to lowest level since 2019

Also, the Global Reporting Initiative announces a new biodiversity benchmark.

IAASB opens consultation on narrow-scope amendments

The amendments address public-interest audits. Also, IFAC releases a sustainability review.

IESBA approves exposure draft, shares 3-year work plan

Also, Charles Tilley, the former chief executive of CIMA, is honoured by IFAC.

IOSCO finalises recommendations for decentralised finance

Also, the UK FRC shares its latest findings on audit inspections.

COP28’s ‘historic’ agreement; IFAC focuses on sustainability

Nearly 200 countries commit to moving away from fossil fuels. IFAC issues standards revision plans, and the UK and Switzerland approve an audit qualification agreement.

New IAASB standard addresses audits of smaller entities

The standard will provide a global baseline for reasonable assurance over disclosures made by less complex businesses and organisations.

COP28 declaration highlights commitment to global climate reporting

AICPA & CIMA are among nearly 400 organizations declaring support of the IFRS Foundation’s efforts to create a global baseline for sustainability reporting.

IASB publishes exposure draft on IAS 32 amendments

UK FRC publishes thematic review of audit sampling; UK government releases upskilling guidance for businesses.

IFAC publishes sustainability guidance for SMEs

Also, the FRC publishes 2024 taxonomies and reviews IFRS 17 in company reports.

IFRS proposes accounting taxonomy changes

Also, IPSASB issues a benefit standard, and the UK FRC opens consultation on Actuarial Standard Technical Memorandum 1.

FRC calls for a ‘better, not more’ approach to annual reports

The UK Financial Reporting Council releases guidance to help companies produce annual reports that take a more strategic approach to assessing materiality.

AICPA & CIMA, WBCSD release framework to improve engagement with strategy

The Integrated Performance Management framework is intended to build a “performance culture where people are empowered, trusted, and engaged”.

UK Transition Plan Taskforce releases disclosure framework

This weekly roundup also looks at an IPSASB exposure draft and a consultation from the UK FRC to improve auditing standards.

IAASB amends auditing standards in response to IESBA revisions

Also, a letter from standards-setters to the ISSB addresses areas of concern in global sustainability standard reporting, and IPSASB updates conceptual framework to reflect IASB revisions.

IPSASB opens consultation; IASB proposes taxonomy updates

This week’s roundup examines further proposed amendments from the IASB following the international tax reform and the IPSASB’s request for feedback on its 5-year work plan.

IASB amends SME standard; UK, New Zealand sign audit agreement

This week’s roundup examines the IASB’s amendments to the IFRS standard to account for changes introduced by the international tax reform.

IASB proposes narrow-scope amendments to IFRS accounting standards

The exposure draft is open for comment until 11 December; IOSCO introduces policy recommendations for decentralised finance.

IAASB opens consultation on sustainability standard

The standards board seeks stakeholders’ views on ISSA 5000 and schedules webinars about the standard for practitioners and regulators.

UK sustainability disclosure standards expected next year

UK-endorsed sustainability disclosure standards, expected in summer 2024, will be based on those from the IFRS.

Accounting standards

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