Brexit and COVID drive audit process rethink
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.
Financial reporting news and insights
Articles, updates and features from ICAEW offering analysis and commentary on how the UK's exit from the EU affects financial and corporate reporting.
Brexit: key financial reporting considerations for the year end
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
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
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.
2020/21 Reporting Season: accountants face up to exceptional challenges
2 November 2020: Coronavirus, Brexit and the impacts of climate change add up to a reporting season like no other for chartered accountants, writes ICAEW CEO Michael Izza.
2020/21 Reporting Season: COVID, Brexit and other challenges
26 October 2020: The FRC’s Executive Director, Regulatory Standards, Mark Babington, urges the profession and all businesses to put clarity of information and high-quality assurance at the forefront during this difficult time.
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?
Little change for financial reporting following Brexit for now
24 February 2020: on 31 January 2020 the UK left the EU. Or did it? From a financial reporting perspective, very little has changed.