ICAEW guidance: how to find out what’s in the pipeline
Want to know what accounting changes are coming up, but unsure where to look or how to find out? Check out the ICAEW website, but use a search engine, recommends Julia Penny.
I often get asked if I know whether ICAEW has, or is about to, issue some guidance on a particular topic. I quite understand this question, as it is can be difficult to find things out if you are not on relevant committees or familiar with the processes used to develop new guidance.
If you are looking for information on existing ICAEW guidance I always recommend that you start with a Google search. This is far more powerful than any organisation’s own website search function and is much more likely to find the required document. You may also find it useful to bookmark the page for technical releases.
But of course, a Google search will still not necessarily provide information about what is being worked on. Therefore, as an ICAEW Council member for London, I asked for further information on how members could find out about this.
The answer is that there is a page of Representations and technical guidance in progress. This covers both consultations being considered and further technical releases or similar, which are being developed.
For instance, if you scroll down the page you can see that an FAQ on FRS 102 for medium and large entities is due on 28 September 2018.
Sometimes new guidance can take a considerable amount of time to develop as it might involve consultations and agreement with regulators or other professional bodies, or seeking counsel’s opinion on a complex legal matter. It is useful, therefore, to know when it might be expected.
As mentioned, the page also covers which consultations are being commented upon including, for example, the Insolvency and Corporate governance paper (you can read my article about that paper here), among others.
Having information at our fingertips is a time-saving and empowering aspect of the connected world in which we live. Making sure that it is easy to find, by saving bookmarks and sharing good websites with colleagues makes the most of this advantage.
Julia Penny FCA is London ICAEW Council Member and Technical Director at SWAT UK @JSPenny
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