Accounting and reporting

How the pandemic affects IFRS 9 reporting

Reporting credit losses under IFRS 9 is a challenge as a result of the pandemic. The IASB published a document about application questions.

UK regulators set out policy changes amid disruption

Changes announced include an additional two months for UK companies to publish their audited financial statements.

IASB consults to improve acquisitions information

Feedback is sought on changes to disclosures, goodwill and impairment relating to business acquisitions.

FRC and UK government provide Brexit transition detail

UK regulator confirms no substantive changes to UK accounting and corporate reporting framework during post-Brexit transition period.

UK boards challenged on ethnic diversity ‘positioning’

The independent Parker Review provides a tool for directors and companies to accelerate ethnic diversity progress.

A look at the Natural Capital Protocol

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.

UK regulator urges reporting of workforce metrics

The FRC provides a practical tool for companies to develop their reporting on workforce issues.

Viability, risk, diversity come under FRC spotlight

The UK regulator made recommendations on company reporting in its most recent assessment of UK corporate governance.

Ethics rules, audit recommendations issued in UK

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.

IASB proposes broad changes focused on financial performance

Proposals issued by the International Accounting Standards Board would require information in financial statements to be focused more on financial performance.

The forgotten history of accounting words

Common accounting terms used today have a rich, useful, and sometimes surprising heritage.

Ask the expert: Financial services

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.

IFAC seeks consistency, accountants’ engagement in corporate reporting

The wide variety of frameworks and standards initiatives prevents consistency in corporate reporting, according to the International Federation of Accountants.

Ethics in action: Misleading reporting

What’s a management accountant to do when faced with pressure to fudge the numbers?

FRC urges transparency in lease accounting disclosures

The UK Financial Reporting Council called on companies to provide more information on the effects of the new lease accounting standard.

Climate-related reporting frameworks highly aligned

Assessed against TCFD’s recommendations, report shows GRI, SASB, CDP, CDSB, and IIRC standards have high levels of agreement.

Cloud-based accounting and African SME growth

Access to real-time data is turning traditional accountants into strategic advisers.

FRC strengthens UK going concern audit standard

The UK Financial Reporting Council amended its going concern audit standard to require more work by the auditor. The standard is a response to recent corporate failures and the resulting enforcement actions.

Brewing success: Accounting at Guinness

Management accountants have provided key information for the brewer’s decision-makers for the past 100 years.

IASB, GASB address interbank-offered rate phaseout

The IASB and GASB acted to help financial statement preparers with the phaseout of interbank-offered rates that are used as interest rate benchmarks.

Accounting and reporting

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