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The board’s proposed amendments aim to help companies determine the accounting rules to use when a currency isn’t exchangeable into another currency.
In anticipation of a possible September announcement of a new international sustainability reporting standards board, the IFRS Foundation trustees announced the formation of a new working group to undertake technical preparations and accelerate convergence.
By the fall, the IFRS Foundation trustees plan to issue a proposal for a board that would set international global sustainability reporting standards. The trustees’ plans for that board are becoming clearer.
The UK’s Financial Reporting Council issued advice for companies on how to report transparently and effectively when departing from parts of the UK Corporate Governance Code.
The IFRS Foundation trustees are conducting further analysis after calls for establishing a new board that would issue global sustainability accounting and reporting standards.
Revisions are to clarify concepts, simplify guidance for report preparers, and place greater emphasis on outcomes of businesses’ activities. Fundamental concepts in the framework remain unchanged.
The UK adopted changes to accounting standards relating to interbank offered rates reform and the exemption from applying IFRS 9, Financial Instruments.
From top accounting technologies to digital currencies, Liu Qin, professor and vice-president of the Shanghai National Accounting Institute, reveals recent trends among China’s accounting practitioners.
The Association of International Certified Professional Accountants and the Global Accounting Alliance sent letters supporting the IFRS Foundation’s proposal to create a new sustainability reporting standards board.
