The UK should continue to apply internationally-accepted accounting standards if the UK wishes to retain its status as a major global financial centre, according to the ICAEW’s Financial Reporting Faculty

After a number of reporting errors made by listed companies, Sarah Perrin ACA examines the accounting rules for the treatment of distributable profits and intragroup loans rules under FRS 102 

Jeroen Van Doorsselaere, VP of risk and finance at Wolters Kluwer, unravels IFRS 17 Insurance Contracts, announced in May earlier this year, explaining what changes have been made to the previous insurance standard IFRS 4 which will be replaced by IFRS 17 when it is implemented in 2021

The International Accounting Standards Board (IASB) has announced the 18 members of its transition resource group to support the implementation of IFRS17 Insurance Contracts, with five out of the 18 members based in the UK

The head of the International Accounting Standards Board (IASB) has set out a robust defence of its role as the IFRS standard-setter against a backdrop of investor demand for alternative performance measures and increasing calls for more information on intangibles and value, rather than a focus on pure numbers

The International Accounting Standards Board (IASB) has issued detailed guidance to help company reporters with materiality judgments, designed to encourage them to use judgment instead of using IFRS requirements as a checklist by default

The IASB has launched a consultation on proposed clarifications to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors centring on the definition of ‘material’ information in financial statements  

In part one of a new series on FRS 101 Reduced Disclosure Framework, Anne Cowley ACA considers the pros and cons of choosing FRS 101 to prepare UK GAAP accounts, highlighing potential pitfalls and considering which companies should adopt the accounting rules

The International Accounting Standards Board (IASB) is consulting on proposed narrow scope amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors to make it easier for company preparers to make the distinction between accounting policies and accounting estimates

Outsourcing specialist Capita has re-stated its underlying operating profit for 2016, which is now down from £481m to £335m, as a result of its early adoption of IFRS 15 Revenue from Contracts with Customers, which has had a significant impact on its long-term contracts and software business

Armaghan Haq FCA and David Maxwell ACA examine the transitional options and their impact on adoption of IFRS 16 Leases under the new lessee accounting rules set to come into force from 1 January 2019

The Basel Committee on Banking Supervision (BCBS) and the IFRS Foundation have signed a cooperation agreement to expand information sharing and foster long-term financial stability