The Financial Reporting Council (FRC) is consulting on improvements to IAS 7, Statement of Cash Flows, a standard that has gone largely unchanged since it was introduced in 1992, which is the key IFRS standard and will affect future changes to FRS 102

The Financial Reporting Council is calling for companies to inject more balance into their reporting of their performance, and says the level of tax disclosures remains ‘disappointingly’ below best practice

The Trustees of the IFRS Foundation, responsible for the governance and oversight of the International Accounting Standards Board (IASB), have appointed Sue Lloyd as vice-chair, replacing Ian Mackintosh, who has been in post for five years and is now retiring

The European Securities and Markets Authority (ESMA) and the IFRS Foundation, which oversees the work of the International Accounting Standards Board (IASB), have announced an updated set of protocols covering cooperation between the two organisations on the development of IFRS standards and their consistent application across the EU

The Basel Committee on Banking Supervision has published a final standard on the regulatory capital treatment of banks’ holdings of total loss-absorbing capacity (TLAC) instruments which will affect all systemically critical financial institutions

Applying hedge accounting for cross currency (xccy) swaps under the new framework for IFRS 9 Financial Instruments throws up a number of challenges compared with the current IAS 39 treatment. Zwi Sacho FCA, director of the corporate accounting advisory practice at Chatham Financial Europe, assesses the options

The Financial Reporting Council (FRC) has issued guidance for listed companies highlighting key issues to focus on when preparing annual reports from revenue recognition reporting to performance measures and business model reporting

The amount of goodwill recognised across European companies is increasing rapidly, with a jump from €935bn (£818bn) in 2005 to €1.341bn in 2014, representing an increase of 43% over a seven-year period, particularly in telecoms and the financial services sectors

The latest technical updates and news in accounting include: ex Tesco executive deny fraud charges over £263m misstatement, natural capital account, tax guidance for FRS 102

The Financial Reporting Council (FRC) is consulting on its proposed approach to updating new UK GAAP - FRS 102 Financial Reporting Standard -  to reflect changes in International Financial Reporting Standards (IFRS), including the impact of revenue recognition under IFRS 15, as part of its first review of the standard

​The European Commission has endorsed amendments to IFRS 10 Consolidated Financial Statements, IFRS 12 Dis­clo­sure of Interests in Other Entities and IAS 28: Investment Entities - Applying the Consolidation Exception, affecting reporting rules for investment and non-investment entities

The International Accounting Standards Board (IASB) has issued amendments to its existing insurance contracts standard, IFRS 4 to ensure that the rules do not contradict the forthcoming IFRS 9 Financial Instruments, although the revised standard will not come into force before 2020