The Financial Reporting Council’s thematic review looks at the annual reports of 20 companies to draw out the features of better reporting and disclosures, whilst also highlighting areas for improvement.
The IAASB said it will develop standards for assurance on sustainability reporting, which will demonstrate that the information reported is reliable and credible.
Key figures discuss how the consolidation of the Value Reporting Foundation could buoy the IFRS Foundation’s hopes of setting a global baseline for sustainability reporting in step with financial reporting.
Targeted amendments proposed by the International Accounting Standards Board are designed to provide more information about the effects of supplier finance arrangements on a company’s liabilities and cash flows.
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.
