Accounting and reporting

The view from the President: Multi-capital transformation

‘Our success will depend on how well we can collaborate as well as analyse.’

IASB issues amendments to IFRS 9

Also, IFAC pays tribute to AICPA & CIMA leader Barry Melancon.

Support for ISSB standards extends to Africa, China

Jurisdictions representing over half the global economy by GDP move towards aligning sustainability disclosure standards with those of the ISSB.

IASB proposes taxonomy amendments to support IFRS 18

Also, the Global Reporting Initiative releases CSRD reporting guidance for companies.

New sustainability training course looks to clarify EU standards

Also, the UK Sustainability Disclosure Technical Advisory Committee appoints 15 members.

When ESG reporting becomes a maze, technology provides a map

Ninety-two per cent of professionals across finance, accounting, sustainability, and audit roles think technological transformation will enable an integrated and improved approach to ESG reporting.

New IFRS standard looks to simplify disclosures for subsidiaries

The IASB also proposes targeted changes to account for renewable electricity contracts with specified characteristics.

CSRD delays: Non-EU companies, industry-specific data on 2-year hold

The European Sustainability Reporting Standards featured in the Corporate Sustainability Reporting Directive now take effect in 2026 for non-EU companies.

IFRS and EFRAG release interoperability guidance for companies

Also, the ISSB publishes sustainability taxonomy to support companies and investors.

IFAC proposes ‘future-fit’ enhancements to education standards

ISSB begins work on biodiversity project; IASB starts review on accounting for intangibles.

GMAP 2.0: Guidance for a new era released in China

The second edition of the Global Management Accounting Principles, which incorporate recent developments from ongoing research in the profession, are available in Chinese for AICPA & CIMA members.

IPSASB publishes proposed amendments to IFRIC interpretations

Also, IESBA, the IAASB, and IOSCO unveil their work plans and strategies for improving corporate reporting and governance.

Global ethics standards on tax planning released

IESBA’s standards, set to take effect in July 2025, are intended to strengthen the ethical framework that guides professional accountants providing tax planning services.

IFAC highlights key areas for sustainability upskilling

Also, the IAASB launched a video series to help stakeholders understand the proposed changes to the fraud standard.

New IFRS standard aims to improve corporate reporting

IFRS 18, Presentation and Disclosure in Financial Statements, is effective for annual reporting periods beginning on or after 1 January 2027.

IPSASB proposes amendments to assets standard

Also, the UKEB seeks UK stakeholders’ views on a recent exposure draft from the IASB, and the EU’s new “due diligence” rules address firms’ impacts on human rights and the environment.

IASB opens consultation on standard for SMEs

Here’s a roundup of recent developments in the financial reporting world, including new guidance from IFAC to support accounting in the public sector.

FRC revises accounting standards for UK, Ireland

The amendments are intended to improve financial reporting. The most significant changes apply to leases and revenue recognition.

IESBA publishes guidance in relation to PIE audits

FRC announces roundtable discussion dates for Stewardship Code review; FCA relays priority areas in the final year of its three-year strategy.

IASB’s IFRS 3 proposals aim to reduce complexity for companies, investors

An IASB board member explains proposed changes to IFRS 3, Business Combinations, how the board plans to reduce complexity in the standard’s impairment test, and next steps for finalising the standard.

Accounting and reporting

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