IFRS

Audit Consultations

Finance | IASB reviews IFRS 15 revenue recognition rules

The International Accounting Standards Board (IASB) has issued a consultation on plans to review the effectiveness of the IFRS accounting standard for revenue from contracts with customers, IFRS 15

3 Jul 2023

Audit Consultations

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Finance | ISSB launches global sustainability disclosure standards

The ISSB has issued two new reporting standards aimed to improve trust and confidence in company disclosures about sustainability and climate change

26 Jun 2023

Finance | Fair value disclosures need to be more transparent

The challenging economic environment and climate change risks may increase the degree of estimation uncertainty and management judgment about fair value under IFRS 13

14 Jun 2023

Finance | IASB plans deferred tax amend to IFRS for SMEs

The International Accounting Standards Board (IASB) plans to amend the IFRS for SMEs accounting standard to help SMEs respond to the 15% global base tax rate

1 Jun 2023

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Finance | IASB increases disclosures for supplier finance

The International Accounting Standards Board (IASB) has issued disclosure requirements to enhance the transparency of supplier finance arrangements under IAS 7 and IFRS 7

25 May 2023

Finance | Accounting for cloud computing – common but complex

Accounting for software held in the cloud is complex and can be treated as a lease, intangible asset or service contract, but what is the best approach under IFRS, ask Glynnis Carthy CA (SA) and Rachel Farris FCA CTA

19 Apr 2023

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Finance | IASB seeks to improve reporting of climate-related risks

The International Accounting Standards Board (IASB) plans to examine how companies can improve the reporting of climate-related risks in financial statements

24 Mar 2023

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Finance | Intangibles reporting lacks transparency

Investors and preparers have criticised outdated accounting treatment of intangible assets, calling for improvements to transparency and disclosure

22 Mar 2023

Finance | Pressure Technologies misreports revenue under IFRS 15

FTSE listed Pressure Technologies has flagged a delay to the year end financial statements due to a failure to comply with revenue recognition reporting rules under IFRS 15

21 Mar 2023

Finance | Auditors need to improve credit risk assessments in IFRS 9

The Financial Reporting Council (FRC) has published a review of the Big Four audit firms’ methodology around IFRS 9 Financial Instruments, focusing on banking audits

27 Feb 2023

Finance | FRC stresses audit focus for IFRS 17 insurance standard

The Financial Reporting Council (FRC) has written to insurance companies setting out audit priorities once IFRS 17 Insurance Contracts comes into effect from January

12 Dec 2022