Accounting and reporting

FRC sets out guidance and expectations for deferred tax asset disclosure

The FRC reviewed company annual reports and identified opportunities for how companies can improve the quality of disclosures.

African ministers call for collaboration between ISSB and stakeholders

African ministers and senior officials express support for early adoption of ISSB standards in Africa.

IASB proposes updates to standard focused on SMEs

The board published an exposure draft to update the IFRS for SMEs Accounting Standard — with a six-month comment period.

How companies can improve earnings-per-share disclosure

The FRC has published a review on earnings-per-share disclosure to encourage improvement in the application of IAS 33 principles.

5 steps for finance teams to upskill on ESG reporting

The move towards mandatory ESG reporting will require finance to assess the knowledge already in the team and new expertise needed — as a starting point.

Next step for sustainability reporting: Assurance requirements

The IAASB said it will develop standards for assurance on sustainability reporting, which will demonstrate that the information reported is reliable and credible.

FRC report calls for improved digital security risk disclosure

The UK regulator shares disclosure recommendations designed to help organisations meet the needs of investors and be prepared for new reporting requirements.

IFRS Foundation ready for next chapter in sustainability reporting

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.

AICPA & CIMA comment on ISSB drafts of sustainability disclosures

A comment letter applauds efforts to develop global standards for disclosing sustainability information and provide suggestions related to the two exposure drafts.

FRC updates review of judgements and estimates

UK regulator the Financial Reporting Council identified four areas in which there is room for improvement in required disclosures.

IAASB proposes narrow scope amendments to operationalise changes to the IESBA code

The International Auditing and Assurance Standards Board has released proposed narrow scope amendments to initiate changes to the International Ethics Standards Board for Accountants’ code of ethics that enhance transparency and independence.

The revised UK Stewardship Code’s effect on teams and resourcing

The UK Stewardship Code and market pressure have led to a growth in stewardship teams and resourcing among investors and asset managers.

EU agrees deal on company disclosures to combat greenwashing

The provisional agreement will require a formal vote by EU states and parliament to ratify it.

UK regulator updates guidance for company strategic reports

The FRC made changes to align its guidance for strategic reports with UK legislation on climate-related disclosures, public interest entities, and more.

Government expands UK regulatory scope and powers related to auditing

Listed companies with more than 750 employees and over £750 million annual turnover will come under the UK’s FRC replacement, the government plans.

IASB, ISSB plan to work jointly on reporting framework’s future

The standards boards say they will collaborate on building the Integrated Reporting Framework into their standard-setting work.

FRC sets out expectations on discount rate use in reporting

Recommendations by the UK’s Financial Reporting Council cover consistency, transparency, obtaining third-party advice, and other topics relating to discount rates.

UK’s FRC highlights reporting obligations on modern slavery

Financial Reporting Council research found mandatory modern slavery statements were sometimes nonexistent or not publicised as required.

ISSB sets out draft sustainability standards, 6-point plan

The International Sustainability Standards Board’s launched consultation was coupled with a six-point plan to build on SASB standards development.

Climate disclosure requirements set to take effect in UK

Mandatory climate disclosures for the largest companies were enshrined into UK law last week. Here’s what companies will need to disclose after the law takes effect in April.

Accounting and reporting

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