The IASB is proposing to delay the effective date of an amendment to IAS 1 and is consulting on a proposed amendment to IFRS 16 to make it easier for lessees to account for COVID-19-related rent concessions.
Chakkrit Parapuntakul, president of the Thailand Federation of Accounting Professions, discusses efforts to help SMEs, promote management accounting, and improve universities’ accounting education.
Finance departments will increasingly need to account for the natural world as part of their strategic mandate. One framework offers a way to identify risks and opportunities amidst the change.
The UK Financial Reporting Council issued new rules focusing on strengthening auditor ethics and independence requirements. Meanwhile, the Brydon Report recommended actions to improve the quality of audits.
Proposals issued by the International Accounting Standards Board would require information in financial statements to be focused more on financial performance.
CEO Ed Molyneux co-founded FreeAgent in 2007 with the aim of democratizing accounting for small businesses and to help them work better with their accountants.
The wide variety of frameworks and standards initiatives prevents consistency in corporate reporting, according to the International Federation of Accountants.
