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Accounting and reporting
Also, the UK’s FRC announced a revised insurance sector standard.
ISSA 5000 is set to replace ISAE 3000 (Revised) as the preferred framework for providing assurance of sustainability standards.
Failures in the timeliness, usefulness, and visualisation of data when preparing information for decision-makers can undermine organisational success.
Also, the Global Reporting Initiative expands sustainability training opportunities, and IFAC addresses the role of accountants in emerging economies.
Also, the FRC issues revised UK and Ireland accounting standards.
Nearly half of FTSE 100 companies restated sustainability disclosures this year, predominantly related to discrepancies in greenhouse gas metrics.
Also, the FRC reviews the quality of IFRS 17 reporting.
Also, the IAASB issues guidance for the application of the International Standard on Auditing.
IFAC’s PAIB highlights key areas where accountants can drive change.
IPSASB proposes limited-scope updates to accrual-basis standard; FRC launches discussion paper on digital reporting.
UKEB seeks stakeholder feedback on IFRS 18; IPSASB calls for academic contributions to accounting research.
Also, the IASB issued climate-related reporting guidance.
Also, the FRC published a report detailing key achievements and highlights from the past year.
Changes to the application process are intended to ensure that the Code is helping to reduce reporting burdens.
Also, the UKEB seeks stakeholder views on IFRS 18; the IAASB publishes guidance on ISA for less complex entities.
Sri Lanka-based Hayleys Plc is an expansive conglomerate that has centralised and streamlined ESG reporting to ensure data consistency and integrity.
Also, the IASB’s review of IFRS 9 determines the standard is working as intended, with further enhancements probable.
97% of companies say they are ready to report under the EU sustainability directive this year, but most are not using technology to improve data reporting processes.
A collaboration of the IFRS Foundation and the International Finance Corporation aims to strengthen capital markets by promoting consistency in sustainability reporting.
New reports and resources from IFAC offer guidance for professional accountants to lead their organisations in this transformative era.
