IFAC called for the creation of a new sustainability accounting standards board, and five global organizations committed to working together toward unified corporate reporting.
The International Accounting Standards Board has issued a final package of standards amendments relating to ongoing reform of interbank offered rates.
UK companies using the lease accounting standard’s COVID-19 amendment before its likely autumn adoption by the EU will not face regulatory action.
The effective date of the International Accounting Standards Board’s new accounting guidance on classification of liabilities has been delayed by one year.
The IASB is proposing to delay the effective date of an amendment to IAS 1 and is consulting on a proposed amendment to IFRS 16 to make it easier for lessees to account for COVID-19-related rent concessions.
Proposals issued by the International Accounting Standards Board would require information in financial statements to be focused more on financial performance.
The IASB and GASB acted to help financial statement preparers with the phaseout of interbank-offered rates that are used as interest rate benchmarks.
Embedded leases, data extraction, and staff training all pose challenges with the IFRS 16 deadline approaching.
In an effort to make it easier for companies to make materiality judgements, the International Accounting Standards Board (IASB) issued a clarified definition of “material”.
Here’s what organisations need to consider as they implement the new Financial Accounting Standards Board rules—and why it’s smart to start that work promptly.