Need to know
Exclusive
Brexit: Implications of changes to company law on corporate reporting
- Helpsheets and support
- 14 Jun 2021
The end of the transition period brought into effect changes in company law that have an impact on the preparation of the annual report and accounts. This guide outlines some of the practical implications.
Brexit - reflections on implications for financial reporting
- Helpsheets and support
- 11 Dec 2020
A summary of the key financial reporting considerations for December 2020 year-ends and beyond.
Brexit checklist
- Helpsheets and support
- 19 Oct 2020
Read our quick-start guide, outlining a variety of areas that could impact your business post Brexit.
Endorsement Board and other Brexit implications for financial reporting
- Webinar
- 29 Apr 2021
Hear about the role of the UK Endorsement Board and other financial reporting implications of Brexit.
2021/22 reporting: new guidance for preparers
- Article
- 26 Jan 2022
Several factors will be a focus for investors and regulators this 2021/22 reporting season. Preparers will need to keep them in mind.
ICAEW updates audit report wording guides
- Article
- 15 Sep 2021
The Audit and Assurance Faculty at ICAEW has updated five of its popular audit report wording guides to reflect changes to auditing standards.
Brexit and COVID drive audit process rethink
- Article
- 16 Feb 2021
16 February 2021: The double whammy of Brexit and COVID has prompted an important focus on approaches to audit that could prove beneficial to auditors and clients alike.
Brexit: key financial reporting considerations for the year end
- Article
- 15 Dec 2020
15 December 2020: ICAEW’s Financial Reporting Faculty’s short guide looks at the main areas of focus.
2020/21 Reporting Season: how to achieve high-quality reports
- Article
- 09 Dec 2020
10 December 2020: As companies prepare to embark upon the 2020/21 reporting season, questions around judgments and estimates, impairments and financial instruments have topped the list of problematic financial reporting areas
2020/21 Reporting Season: both a challenge and an opportunity
- Article
- 02 Nov 2020
3 November 2020: Reporting on 2020 will be a challenge. The Financial Reporting Council Lab acknowledges this but also flags opportunities for the development of investor information despite the uncertainty.
UK-adopted IFRS: what will it look like?
- Article
- 09 Mar 2020
10 March 2020: IFRS as adopted by the UK will replace its EU counterpart when the Brexit transition period ends on 31 December. Will this mean significant change for companies currently preparing accounts under EU-adopted IFRS?
Little change for financial reporting following Brexit for now
- Article
- 21 Feb 2020
24 February 2020: on 31 January 2020 the UK left the EU. Or did it? From a financial reporting perspective, very little has changed.
Planning for the 2021/22 reporting season - Practical help for preparers
- Helpsheets and support
- 11 Jan 2022
In this guide the Financial Reporting Faculty looks at what is different about the current reporting season and where to focus your efforts.
2021 IFRS Accounts Extract
- Helpsheets and support
- 27 Sep 2021
This factsheet highlights new and modified requirements for preparers of IFRS accounts. The factsheet deals primarily with new IFRS requirements with mandatory application for annual periods beginning on or after 1 January 2021.
Exclusive
Brexit: Implications of changes to company law on corporate reporting
- Helpsheets and support
- 14 Jun 2021
The end of the transition period brought into effect changes in company law that have an impact on the preparation of the annual report and accounts. This guide outlines some of the practical implications.
UK Endorsement Board
- Article
- 15 Feb 2021
A short introduction to UKEB and its role in the endorsement and development of IFRS.
UK endorsement of IFRS
- Helpsheets and support
- 22 Jan 2021
UK preparers can only apply new and amended IFRSs once they have been UK-endorsed.
Brexit - reflections on implications for financial reporting
- Helpsheets and support
- 11 Dec 2020
A summary of the key financial reporting considerations for December 2020 year-ends and beyond.
UK-adopted IFRS: what will it look like?
- Article
- 09 Mar 2020
10 March 2020: IFRS as adopted by the UK will replace its EU counterpart when the Brexit transition period ends on 31 December. Will this mean significant change for companies currently preparing accounts under EU-adopted IFRS?
Little change for financial reporting following Brexit for now
- Article
- 21 Feb 2020
24 February 2020: on 31 January 2020 the UK left the EU. Or did it? From a financial reporting perspective, very little has changed.
Webinars
Endorsement Board and other Brexit implications for financial reporting
- Webinar
- 29 Apr 2021
Hear about the role of the UK Endorsement Board and other financial reporting implications of Brexit.
Businesses preparing and auditing financial accounts
- Website
- 16 Mar 2021
There have been changes to the UK's corporate reporting regime which affect a small number of companies. Watch this video to find out more about changes to accounting and auditing.
Guidance for companies preparing IAS accounts for accounting periods straddling IP completion day
- Website
- 23 Dec 2020
Transitional provision guidance issued by the FRC for preparers using IFRS. It includes proposed wording to explain the basis of accounts preparation, where an entity has a financial period which straddles the end of the transition period following the UK's exit from the EU.
Amendments to UK and Republic of Ireland accounting standards – UK exit from the European Union
- Website
- 21 Dec 2020
Amendments to FRS 100, 101, 102, 103, 104 and 105 issued by the FRC to ensure consistency with UK company law and to update legal references and terminology used in the standards, reflecting changes in legislation as the EU exit transition period ends.
UK accounting and audit framework from 1 January 2021
- Website
- 23 Nov 2020
Letters issued by BEIS and the FRC in November 2020 to the accounting and audit sectors setting out changes to the UK's corporate reporting framework at the end of the transition period.
Endorsement of International Accounting Standards
- Website
- 09 Oct 2020
Information from the FRC about the status of existing EU-adopted IFRSs, establishing a UK endorsement body, and the FRC's influencing and endorsement activities.
The Impact of EU Exit
- Website
- 09 Oct 2020
Documents from the FRC and government on auditing and accounting during and after the transition period. It includes links to legislation and information for EEA based organisations transferring personal data to the FRC.
BEIS/FRC Letter on on accounting and corporate reporting during the transition period
- Website
- 13 Feb 2020
Letter issued by the Department for Business, Energy and Industrial Strategy (BEIS) and the Financial Reporting Council (FRC) to the accountancy sector on accounting and corporate reporting standards during the transition period.