Accounting and reporting

IFRS proposes accounting taxonomy changes

Also, IPSASB issues a benefit standard, and the UK FRC opens consultation on Actuarial Standard Technical Memorandum 1.

FRC calls for a ‘better, not more’ approach to annual reports

The UK Financial Reporting Council releases guidance to help companies produce annual reports that take a more strategic approach to assessing materiality.

AICPA & CIMA, WBCSD release framework to improve engagement with strategy

The Integrated Performance Management framework is intended to build a “performance culture where people are empowered, trusted, and engaged”.

UK Transition Plan Taskforce releases disclosure framework

This weekly roundup also looks at an IPSASB exposure draft and a consultation from the UK FRC to improve auditing standards.

IAASB amends auditing standards in response to IESBA revisions

Also, a letter from standards-setters to the ISSB addresses areas of concern in global sustainability standard reporting, and IPSASB updates conceptual framework to reflect IASB revisions.

IPSASB opens consultation; IASB proposes taxonomy updates

This week’s roundup examines further proposed amendments from the IASB following the international tax reform and the IPSASB’s request for feedback on its 5-year work plan.

IASB amends SME standard; UK, New Zealand sign audit agreement

This week’s roundup examines the IASB’s amendments to the IFRS standard to account for changes introduced by the international tax reform.

CIMA and CPA Australia renew membership agreement

The agreement was extended another four years; also, the IASB is exploring a project on climate-related reporting.

AICPA & CIMA respond to corporate governance code consultation

The FRC seeks to update the UK Corporate Governance Code to ensure it aligns with changes to legal and regulatory requirements set out by the UK government.

IASB proposes narrow-scope amendments to IFRS accounting standards

The exposure draft is open for comment until 11 December; IOSCO introduces policy recommendations for decentralised finance.

IAASB opens consultation on sustainability standard

The standards board seeks stakeholders’ views on ISSA 5000 and schedules webinars about the standard for practitioners and regulators.

UK sustainability disclosure standards expected next year

UK-endorsed sustainability disclosure standards, expected in summer 2024, will be based on those from the IFRS.

IASB amends exchange rate standard; FRC updates Taxonomy Suite

Also, a new support scheme for SMEs aims to help businesses lower energy usage and save money.

FRC opens consultation on ethical standard revisions

Also, IFAC issues call to action to highlight the importance of an inclusive approach in reaching sustainable development goals.

IAASB issues draft sustainability assurance standard

Also, EFRAG adopts first set of sustainability reporting standards.

IFRS releases resources to support sustainability reporting

The IFRS Foundation this week published a proposed disclosure taxonomy and a comparison guide, both designed to assist those preparing for implementation of new global sustainability standards.

AICPA & CIMA release brief for sustainability support

Accounting for Climate Resilience rounds out a four-part series designed to help finance professionals build sustainability literacy; UK FRC reviews climate disclosures.

IFAC explores public sector role in socioeconomic growth in South Africa

Also, the FCA announces an innovation initiative, and the UK government issues draft amendments focused on business resilience.

UK regulator issues amendments to reporting standards

IFAC responds to European sustainability standards, and ethics guidance for auditors is released.

4 AICPA & CIMA leaders discuss global sustainability standards

Leaders see an opportunity for accountants to create value in sustainability reporting. They also see challenges, including interoperability.

Accounting and reporting

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