In this month’s roundup of developments in accounting and financial reporting, BT £225m bill over Italian accounting errors, Wilkins Kennedy to pay £7.5m settlement, SEC blockchain rules, insurers need to start planning for IFRS 17 Insurance Contracts, FRC needs to increase staff and scope

In this month's legal updates, experts at law firm Gateley plc consider execessive remuneration, fiduciary duties at charitable company, government to debate Repeal Bill and Scottish partnerships hit by PSC register rule change

The US Financial Accounting Standards Board (FASB) has issued its long-awaited accounting standards update (ASU) to improve and simplify accounting rules around hedge accounting, the final component of its financial instruments convergence project with the International Accounting Standards Board (IASB)

IFRS 9 Financial Instruments is fast approaching with companies having to implement the standard by January 2018, Jeroen Van Doorsselaere, vice president of risk and finance, and Sarfaraz Ahmed, market manager at Wolters Kluwer consider the timetable 

Micro entities attempting to file filleted accounts under FRS 105 Micro Entities Regime are finding their submissions are rejected by Companies House

The Charity Commission has released the 2017 annual return service for charities to submit income and expenditure figures for 2017, which is due within 10 months of the end of financial reporting period for charities with income of more than £10,000

Plans to move landlords onto the cash basis have been put on hold due to the recent general election but are likely to make it into the second Finance Bill in autumn. Stephen Relf ACA CTA, tax writer at Wolters Kluwer, considers the implications of the cash basis for landlords 

Bundled services and specific industry sectors will need to overhaul revenue recognition reporting under the new accounting standard, IFRS 15 Revenue from Contracts with Customers, and now is the last chance to ensure that everything is in place for the new accounting rules effective date from 1 January 2018, explains Brian O’Donovan, partner in KPMG's international standards group

The Financial Reporting Council (FRC) is consulting on amendments to its guidance on the strategic report, designed to take into account the new regulations for non-financial reporting that are effective for financial periods beginning on or after 1 January 2017

The International Federation of Accountants (IFAC) has published guidance to support countries in developing an effective professional accountancy organisation (PAO), to reflect changes in regulation in recent years and the need to adapt to and actively influence the national environment

Anne Cowley ACA rounds off the series on small business accounting with tips and advice on how to prepare filleted accounts, an exemption which allows eligible companies to omit the directors' report and the profit and loss account from the filed accounts 

The International Accounting Standards Board (IASB) should work to simplify standards and ensure they are released more quickly, according to independent research