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Financial reporting

The UK Brexit transition period ends on 31 December 2020. This page brings together guidance and news from ICAEW, as well as externally-produced resources providing practical information on financial and corporate reporting.

Need to know

Latest news and insights

UK-adopted IFRS: what will it look like?

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?

Guides and FAQs

Webinars

External resources

The Impact of EU Exit

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.

Accounting implications of the UK’s Brexit decision

A 10 page PwC In depth guide focusing on the consequential accounting and reporting implications of the UK departure from the EU on 31 January 2020. The paper looks at the Brexit-related risks that management should be considering for their impact on accounting and reporting.

Brexit: Financial reporting implications

Two page briefing from the Audit Committee Institute (KPMG) highlighting the immediate accounting and reporting implications to consider when preparing half-yearly and annual financial reports.

The impact of Brexit on corporate reporting

Short paper from EY intended to help companies with the disclosure of the impact of Brexit in the strategic report and financial reporting considerations in interim financial statements and annual financial statements.

The risks and opportunities of Brexit

Survey from Deloitte looking at how companies have disclosed the risks, opportunities and contingency planning for Brexit in their annual reports, illustrated with examples. The authors offer some advice on how companies could tackle the topic, drawing on the findings from the 60 FTSE 100 annual reports they reviewed.