Global economy & markets

IFAC proposes ‘future-fit’ enhancements to education standards

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

Business optimism on the rise for UK CFOs

Finance leaders in a quarterly survey have a brighter outlook, but ongoing geopolitical uncertainty is one challenge that has many taking a defensive stance.

Recruitment falls as employers continue to cut costs

Slow hiring rates in the UK have led to the sharpest rise in candidates in four months, according to a monthly report by KPMG and the REC.

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.

AICPA & CIMA find areas for improvement in workforce upskilling

A new report from AICPA & CIMA reveals misalignments between UK government policy and productivity goals.

Prime minister sets out reforms to support SMEs

The package of reforms focuses on boosting investment and removing costly, regulatory burdens for small businesses in the UK.

Hiring slows in the UK, starting salaries rate falls to near 3-year low

Pay increase rates for new workers and demand for staff show continued declines, according to a monthly report by KPMG and the REC.

US regulator adopts climate rule with worldwide impact

The Securities and Exchange Commission rule applies to listed companies and foreign private issuers. Also, the FRC issued Corporate Governance Code guidance.

Economic optimism, hiring plans rise despite continued concern about inflation

Compared with the end of 2023, own-company sentiment is higher among finance decision-makers in a quarterly survey released Thursday.

New spring budget focuses on public services

The UK government budget announcement includes more investments and an increase in the VAT registration threshold.

‘The large Chinese businesses are digitising fast’

AICPA & CIMA’s chief executive–Management Accounting, Andrew Harding, discusses trends in China’s economic, business, and management accounting landscapes.

AICPA & CIMA join forces with IFRS at its sustainability symposium

The IFRS Foundation’s Partnership Framework and Knowledge Hub are collaborative initiatives designed to help jurisdictions adopt the new global baseline for sustainability reporting.

UK anti-fraud measures take effect in March

The UK government aims to implement new measures to tackle economic crime and improve transparency.

UK GDP drops for second consecutive quarter

AICPA & CIMA’s Andrew Harding says boosting worker productivity is key to lifting the UK out of its economic malaise.

FRC revises actuarial standard to promote transparency

Also, new EU rules aim to help companies validate green marketing claims.

Starting salary growth falls further below historical average

Pay growth rates for new workers in the UK showed the lowest rise since March 2021, according to a report by KPMG and the REC.

UK M&A outlook: Challenges persist, but conditions stabilise

A stronger focus on strategy from dealmakers could help companies stay competitive as economic uncertainty continues to affect the M&A landscape.

CIMA calls for productivity focus in UK budget

CIMA’s Spring Budget submission makes recommendations for addressing a “rut” that includes “stagnating living standards” and low economic growth.

IESBA opens consultation on global sustainability standards

IPSASB issues exposure drafts on accounting for natural resources; FRC releases guidance for companies’ applying the revised Corporate Governance Code.

Corruption levels show weakening justice systems across regions

The annual Corruption Perceptions Index shows that most regions are either stagnant or showing signs of decline in efforts to combat systemic corruption.

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