Accounting Standards

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Finance | KPMG delays results in face of ‘significant uncertainty’

KPMG has become the second of the Big Four to delay publication of its annual results and details of partners’ pay until it has a clearer view of the impact of Covid-19

16 Oct 2020

Finance | FRC advice to make Section 172 statements useful

The Financial Reporting Council (FRC) Lab has published a set of tips to help companies with preparing the Section 172 statement reflecting the board’s consideration of stakeholders in pursuit of the success of the company, after speaking to institutional and retail investors and other stakeholders about what they consider useful reporting

16 Oct 2020

Finance | FRC wants re-think on corporate reporting

The Financial Reporting Council (FRC) is seeking views on plans to take a more agile, flexible approach to corporate reporting, based on a principles-based framework, to ensure information better meets the needs of investors and others

8 Oct 2020

Finance | IFRS Foundation consults on sustainability standards development

The IFRS Foundation trustees are exploring whether, and how, the global accounting standards body might become involved in developing global sustainability standards, given the heightened focus on environmental, social and governance (ESG) matters worldwide

1 Oct 2020

Finance | IFRS Foundation to look at sustainability reporting

Disclosures on climate-change related issues will become much more prevalent than currently is the case, and IFRS reporting has an important role to play in improving transparency around sustainability issues, according to International Accounting Standard Board (IASB) chair Hans Hoogervorst

29 Sep 2020

Finance | FCA launches criminal proceedings with former Redcentric employees

The Financial Conduct Authority (FCA) has confirmed it is taking criminal proceedings against three former executives of Redcentric, after the IT services provider was given a public censure for committing market abuse and ordered to pay £11.4m compensation to investors

25 Sep 2020

Finance

Accounting Standards

Financial Reporting

Image for frc seeks revenue and leases reporting improvements

Finance | FRC seeks revenue and leases reporting improvements

The Financial Reporting Council (FRC) is warning companies they need to improve their reporting of revenue and leases, after reviewing a sample of disclosures in annual and interim reports

24 Sep 2020

Finance | Big Four back universal sustainability metrics

The Big Four accountancy firms, together with the World Economic Forum (WEF), have released a set of universal environmental, social and governance (ESG) metrics designed to make benchmarking sustainable business performance easier and more comparable

24 Sep 2020

Finance | International reporting: forward-looking financial statements

In September’s international accounting updates, Jeroen Van Doorsselaere considers what lies ahead for CFOs and asks whether they now need to be a jack of all trades

21 Sep 2020

Finance | Push for standardised carbon accounting

The Partnership for Carbon Accounting Financials (PCAF), an industry-led partnership to standardise carbon accounting for the financial sector, has launched a UK coalition to further promote measurement and disclosure of carbon emissions in the finance sector

21 Sep 2020

Finance | Deloitte fined £15m over Autonomy auditing failures

Deloitte has been fined a record £15m and severely reprimanded by the Financial Reporting Council (FRC) for ‘serious and serial failures’ in its auditing of software company Autonomy, including ‘numerous’ examples of misconduct and a lack of professional scepticism

17 Sep 2020

Finance | Coronavirus set to increase M&A disputes

With buyers and sellers arguing over every penny, M&A negotiations are likely to become more contentious, complex and expensive. Duff & Phelps’ Andrew Probert looks how accounting policies can lead to disputes as ‘coronavirus’ gets written into agreements

16 Sep 2020

Finance | Ignore professional development at your peril

With online CPD courses offering help and advice to tackle the latest government guidelines and adaptation of working practices, why are accountants not seizing the opportunities available? Susan Divall from the Institute of Financial Accountants considers the risks of not prioritising professional development

15 Sep 2020

Leadership & Management

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Finance | Plan to create unified sustainability reporting standards

Five global organisations specialising in sustainability and integrated reporting frameworks and standards have declared their intention to work together to create a comprehensive approach to corporate reporting

14 Sep 2020

Finance | FRC’s Lab to examine reporting on risks and uncertainties

The Financial Reporting Council’s (FRC's) Financial Reporting Lab is inviting investors and companies to participate in a new project on corporate reporting on risks, uncertainties and scenarios

14 Sep 2020

Finance | Small accountancy firms remain vital to SME Covid-19 survival

To commemorate Small Business Advice Week, ACCA (the Association of Chartered Certified Accountants) produced a report outlining the importance of Smaller accountancy firms on businesses trying to survive the Covid-19 pandemic

9 Sep 2020

Leadership & Management