The Consultative Committee of Accountancy Bodies (CCAB) is consulting on proposals to revise the statement of recommended practice (SORP) for accounting by limited liability partnerships (LLPs) to reflect changes made by the Financial Reporting (FRC) to UK accounting standards in July 2015 and changes in LLP regulations

In this month’s roundup of developments in accounting and financial reporting, FRS 102 compliance problems over social housing loans, spreadsheet fashions accounting error at M&S, amendments to FRS 101

The Work and Pensions (DWP) and Business, Innovation and Skills (BIS) joint select committee examining the sale of BHS and its pension scheme deficit has delivered an excoriating report, saying leadership failures and personal greed led to the retailer’s collapse, while advisers including Grant Thornton were used as an ‘expensive badge of legitimacy for people who would otherwise be bereft of credibility’, reports Pat Sweet

CIPFA and the Local Authority (Scotland) Accounts Advisory Committee (LASAAC) are asking for feedback on a number of planned changes to the code of practice for local authority accounting in the UK, which would apply to accounting periods starting on or after 1 April 2017

Accountants are at risk from money laundering but there is an ever-growing arsenal to combat the threat, explains Sophie Brookes, partner at Gateley plc

The Financial Reporting Council (FRC) has issued limited amendments to FRS 101 Reduced Disclosure Framework following its annual review of the standard, and is also consulting on plans to remove the requirement to notify shareholders in advance of application of the disclosure exemptions

In the roundup of the latest accounting developments, advisers in frame over BHS sale, FRS 105 amendment for LLPs

Improvements to the communicative value of financial statements will be at the heart of Hans Hoogervorst’s second term as chairman of the International Accounting Standards Board (IASB)

The transition to FRS 102 accounting from old UK GAAP needs careful consideration to avoid contravening tax rules, warns Steve Collings, audit and technical partner at Leavitt Walmsley Associates

The International Accounting Standards Board (IASB) is consulting on narrow-scope amendments to IFRS 3 Business Combinations and IFRS 11 Joint Arrangements, designed to clarify the definition of a business and how to account for previously held interests

An updated version of the Due Process Handbook has been published by the trustees of the IFRS Foundation to include the development and maintenance of the IFRS Taxonomy, including giving the International Accounting Standards Board (IASB) a role in the review and approval

The European parliament has signalled its intention to push the International Accounting Standards Board (IASB) to develop a more co-ordinated approach to developing new IFRS standards, calling for the standard setter to co-ordinate timelines for new accounting rules