IFRS

Finance | Marshall: transition disclosures under IFRS 16 Leases

As the first full year reporting deadline for IFRS 16 Leases approaches, Andrew Marshall FCA, senior technical partner at KPMG, sets out the key issues to consider when finalising accounts

17 Dec 2019

Accounting Standards

Image for frc reporting reviews focus high risk sectors

Finance | FRC reporting reviews to focus on high risk sectors

The Financial Reporting Council (FRC) has set out plans to review the impact of the latest lease accounting and revenue recognition IFRS standards as part of its 2020/21 thematic reviews

16 Dec 2019

Auditing

Finance | IFRS architect Paul Volcker dies

Paul Volcker, who played a major role in the setting up of the IFRS standard setter, the International Accounting Standard Board (IASB), and was a key player in US monetary policy for three decades, has died at the age of 92

11 Dec 2019

Business

Leadership & Management

Image for international reporting ibor phase 2 and management commentary

Finance | International reporting: IBOR Phase 2 and management commentary

Changes to the Interbank Offered Rate (IBOR) will impact IFRS 9 while a review of management commentary will tighten requirements around disclosures, the International Accounting Standards Board (IASB) has confirmed. Jeroen Van Doorsselaere explains

4 Dec 2019

Finance | FRC tells companies to improve IFRS 16 Leases disclosures

Companies applying the new standard on lease accounting are not providing sufficient information on its impact, according to the Financial Reporting Council’s (FRC) review of the first year of implementation of IFRS 16 Leases

7 Nov 2019

Finance | International reporting: dynamic risk, disclosures and financial reporting

Improving the quality of risk management and disclosure is a priority for the International Accounting Standards Board (IASB) and revising IAS 32 is central to its plans for 2020. Jeroen Van Doorsselaere examines the priorities

31 Oct 2019

Finance | ESMA reporting enforcement prioritises IFRS 16 Leases

The European Securities and Markets Authority (ESMA) has outlined the priorities for European enforcers when examining 2019 annual financial reports of listed companies

24 Oct 2019

Image for lack consistency climate change reporting worries investors

Finance | Lack of consistency on climate change reporting worries investors

The quality of reporting on climate-related issues is falling short of investors’ expectations with a lack of consistent comparative data and analysis, while materiality issues are frequently ignored

22 Oct 2019

Finance | FRC slates quality of IFRS 15 revenue recognition disclosure

Companies need to improve the quality of their reporting under newly introduced IFRS for revenue recognition and financial instruments, according to a Financial Reporting Council (FRC) review

10 Oct 2019

Finance | Banks struggle with IFRS 9 implementation

The UK’s major banks are making progress in implementing IFRS 9 Expected Credit Loss accounting (ECL) but there remain weaknesses in aspects of firms’ controls and management information around reporting impairment allowances

4 Oct 2019

Finance | International reporting: IFRS 3 disclosures on mergers and IBOR

The IASB has begun a review of its business mergers’ standard, IFRS 3, while grappling with the impact of changes to interest rate benchmarks. Jeroen Van Doorsselaere outlines the impact on disclosures and transparency

3 Oct 2019

Finance | AIM-listed Byotrol delays results over revenue recognition

Shares in anti-microbial technology company Byotrol have been suspended from AIM after it failed to file an audited version of its results on time, partly because of accounting changes required under IFRS 15 Revenue from Contracts with Customers

1 Oct 2019