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Finance | Oxford debate split over sustainability reporting

A debate over whether sustainability reporting should be mandated and organised by independent bodies or left for the markets heard broad agreement that such reporting should be done, but faced strong rejection of any compulsory requirement

12 Dec 2018

Finance | IFRS chair endorses EU fitness check on standards

In his first speech as chairman of the IFRS foundation trustees, Erkki Liikanen has welcomed the outcome of the EU ‘fitness check’ on IFRS standards, and the emphasis on not requesting ‘carve outs’ from International Accounting Standards Board (IASB) requirements

3 Dec 2018

Finance | Accounting updates: December 2018

In this month’s roundup of accounting and reporting developments, Companies Act 2006 amended for post-Brexit scenario, profit warning at Yü Group, Housing SORP 2018 issued, IFRS 17 Insurance Contracts delayed and poor quality disclosure reporting at smaller listed entities

3 Dec 2018

Finance | International reporting: IASB still has much to do

As 2018 draws to a close, Jeroen Van Doorsselaere discusses the long-term plans of the International Accounting Standards Board (IASB), the work it is doing on materiality, and its collaboration with other boards to develop a global common set of standards

29 Nov 2018

Finance | Recommendations for IFRS 9 expected credit loss disclosures

A specialist taskforce on disclosures about expected credit losses has published ‘stretching’ recommendations for the UK's biggest banks in meeting requirements under IFRS 9 Financial Instruments, which will have a significant effect on how they calculate loan loss provisions

28 Nov 2018

Finance | IFRS 16 Leases: extractives and mining sector - part 8

In part eight of our series on IFRS 16 Leases, Louise Sayers, audit partner and head of natural resources at BDO, examines why it is of particular importance to the extractives and mining sector and what companies should consider when applying the new standard

22 Nov 2018

Finance | IASB confirms one-year deferral for IFRS 17

The International Accounting Standards Board (IASB) is proposing a one-year deferral of the effective date for IFRS 17 Insurance Contracts, under which insurance contract liabilities will be calculated as the present value, to 2022

15 Nov 2018

Finance | Standards setters start work on corporate reporting alignment

The Corporate Reporting Dialogue (CRD), a group of major international corporate reporting standard setters and framework providers, has announced a two-year project focused on driving better alignment in the corporate reporting landscape

14 Nov 2018

Finance | Performance metrics – how to improve reporting

The Financial Reporting Lab has published guidance for companies on ways to improve the presentation of performance metrics in their reporting following criticism from investors about a lack of clarity and transparency

12 Nov 2018

Finance | IFRS 16 Leases: tips and advice for retail sector - part 7

Andrew Marshall FCA, senior technical partner at KPMG UK, examines the impact of IFRS 16 on the retail sector examines how the new accounting rules, effective from 1 January 2019, affect lease terms and payments, discount options, and sale and leaseback

8 Nov 2018

Finance | Disclosure reporting at small listed companies under fire

Smaller listed companies must improve the quality of disclosures about significant accounting judgments and errors, and provide more transparency about their cash flow and tax arrangements

7 Nov 2018

Finance | Governments shift towards accrual basis reporting

Nearly two thirds of governments will report on an accrual basis by 2023, compared to the 25% of governments that do so now, according to the latest research from the International Federation of Accountants (IFAC) and CIPFA

6 Nov 2018

Finance | FRC flags implementation issues with IFRS 9 and 15

The Financial Reporting Council’s (FRC) thematic reviews of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers show that the early application of both standards has raised a number of problems, particularly in explaining the transition to key stakeholders

6 Nov 2018

Finance | IASB clarifies definition of ‘material’

The International Accounting Standards Board (IASB) has issued amendments to its definition of material to make it easier for companies to make materiality judgements, saying some companies experienced difficulties using the old definition

1 Nov 2018