Audit and Assurance
PCAOB sets out priorities for its 2023 inspections
17 April 2023
The Public Company Accounting Oversight Board (PCAOB) outlined its plans to increase its focus on fraud related-audit procedures, the financial services sector and digital assets.
IESBA releases final revisions to global ethics standard
11 April 2023
The The International Ethics Standards Board for Accountants (IESBA) released final revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards). The revisions further increase the Code’s robustness and expand its relevance in a world being reshaped by rapid technological advancements and accelerating digitalisation.
PCAOB propose modernisation of standards addressing core auditing principles
28 March 2023
The Public Company Accounting Oversight Board (PCAOB) issued for public comment a proposed new standard, AS 1000, General Responsibilities of the Auditor in Conducting an Audit. Deadline for comments is 30 May 2023.
Financial Reporting
IASB confirms it will publish amendments for Pillar Two rules
11 April 2023
The International Accounting Standards Board (IASB) has confirmed that it will publish amendments to IAS 12 Income Taxes following the Pillar Two model rules published by the Organisation for Economic Cooperation and Development (OECD). The amendments are expected to be issued by the end of May 2023.
EFRAG to prioritise implementation support for the first set of ESRS
29 March 2023
The European Financial Reporting Advisory Group (EFRAG) is adjusting its workplan to prioritise the implementation of the first set of European Sustainability Reporting Standards (ESRS) over the preparatory work for the draft sector-specific standards. This is intended to ease the burden on stakeholders wishing to contribute to the sustainability agenda.
IASB to consider climate-related risks in financial statements
23 March 2023
The International Accounting Standards Board (IASB) has added a project to its workplan to explore whether and how companies can provide better information about climate-related risks in their financial statements.
UKEB publishes stakeholder report on accounting for intangibles
22 March 2023
The UK Endorsement Board (UKEB) published a report ‘Accounting for Intangibles: UK Stakeholders’ views’. This report sets out the views of stakeholders on the accounting for intangibles under International Accounting Standards within the context of the wider economic impact of intangibles in the UK.
IASB proposes narrow scope amendments to IFRS 9 Financial Instruments
21 March 2023
The IASB has published an exposure draft proposing narrow scope amendments to the classification and measurement requirements in IFRS 9 Financial Instruments.