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Technical news in brief March 2020

ICAEW's Audit and Assurance Faculty brings you the latest technical updates on developments in auditing and assurance, financial reporting and ethics. Please note Only Audit and Assurance Faculty members and Faculties Online subscribers have access to these technical updates.

Financial reporting | 27 March 2020: The IASB has issued a document responding to questions regarding the application of IFRS 9 Financial Instruments during this period of enhanced economic uncertainty arising from the covid-19 pandemic. It does not change, remove nor add to, the requirements in IFRS 9 Financial Instruments. It is intended to support the consistent and robust application of IFRS 9. 

Audit | 27 March 2020: The IAASB has created a COVID-19 web page to help navigate some of the auditing challenges ahead.