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Corporate reporting news and insights

Highlights of the latest guidance published by the Corporate Reporting Faculty as well as news and insights on current developments in financial reporting.

Corporate Reporting Faculty highlights

Planning for the 2022/23 reporting season

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08-12-2022

This guide sets out the areas of reporting that may require more attention than in previous years. It also considers the impact of an uncertain economic environment on the accounts.

How high inflation impacts accounting

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05-12-2022

As inflation increases after a sustained period of low inflation, companies are now having to consider the impact high inflation has on their financial reporting and related uncertainties.

Going concern considerations – a guide for FRS 105 preparers

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06-09-2022

Factors for preparers of micro-entity accounts to consider when doing a going concern assessment and the practical implications for financial reporting.

Going concern considerations - a guide for IFRS reporters

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06-09-2022

This guide summarises management’s responsibilities for assessing going concern and the associated practical implications for financial reporting under IFRS.

Financial instruments: FRS 102 factsheet

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05-01-2023

Summarising the requirements of FRS 102 for basic and other financial instruments, this factsheet includes practical tips and illustrative examples.

IFRS 9 Financial Instruments - hedge accounting - Updated

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09-01-2023

This updated factsheet outlines the hedge accounting requirements of IFRS 9 Financial Instruments, comparing them with those of IAS 39. It also contains practical tips to help with implementation.

IFRS 9 Financial Instruments – overview - Updated

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05-01-2023

This updated factsheet outlines the key requirements of IFRS 9 Financial Instruments, including classification and measurement, and impairment of financial assets. It’s focus is on the non-financial sector.

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Latest news and insights

Nature disclosures ‘will become the norm’

20-09-2023

The final TNFD recommendations were launched at New York Climate Week. Toby Roxburgh, ICAEW’s Sustainability Manager, Nature and Biodiversity, explains what this means and why it matters.

Need to know: Economic Crime Bill and Companies House reform

01-09-2023

As the Economic Crime and Transparency Bill enters the final stages in the parliamentary process, ICAEW Insights recaps how the flagship legislation to tackle money laundering and reform Companies House will impact accountants and businesses.

ISSB must prioritise IFRS S1 and S2

25-08-2023

In its response to the ISSB’s call for opinions on its agenda priorities, ICAEW stresses the importance of prioritising the implementation of IFRS S1 and S2.

Free CPD: Where to start with sustainability reporting

22-08-2023

As more organisations undertake sustainability reporting, they are looking to finance teams for support. ICAEW membership provides access to a range of resources to help you get to grips with the essentials.

CCAB publishes updated draft of LLP SORP

10-08-2023

Draft LLPs Statement of Recommended Practice follows stakeholder feedback from the 2021 consultation, guidance in a number of areas affecting the financial statements of LLPs.

UK Sustainability Disclosure call for evidence

08-08-2023

As part of the UK government’s commitment to assess and endorse IFRS Sustainability Disclosure Standards, a call for evidence seeks views on their prospective use in the UK.

Consultation opens on global sustainability assurance standard

03-08-2023

The International Auditing and Assurance Standards Board (IAASB) is calling on anyone involved with preparing, using and regulating sustainability reports to feedback on its proposed International Standard on Sustainability Assurance – ISSA 5000.

ISSB issues first sustainability disclosure standards

26-06-2023

Corporate reporting has taken a major step forward today as the International Sustainability Standards Board (ISSB) published two IFRS Sustainability Disclosure Standards which aim to boost transparency in ESG information published by companies.

SEC Commissioner: IFRS cannot lose sight of core role

18-05-2023

In his only UK speech during his visit last week, the US Securities and Exchange Commission’s Mark T Uyeda stressed the importance of a focus on accounting standards in his keynote address at Chartered Accountants’ Hall.

Accountancy Europe calls for EFRAG funding boost

09-05-2023

Urgent letter warns that the European Financial Reporting Advisory Group is currently in an “unacceptable working condition” and unable to hire the expert staff it needs, threatening the fulfilment of CSRD.

ICAEW submits final views on FRED 82

02-05-2023

ICAEW is broadly supportive of the draft amendments to UK GAAP standards set out in FRED 82, but raises issues that the Financial Reporting Council (FRC) should consider before finalising changes to FRS 102 and other FRSs.

Why FRED 82 matters to charity finance professionals

18-04-2023

The Financial Reporting Council (FRC) is seeking feedback on draft amendments to FRS 102. Here’s why it’s important for all charity finance professionals to make their voices heard before the consultation deadline of 30 April 2023.

FRED 82: ICAEW’s initial views

04-04-2023

ICAEW is broadly supportive of the Financial Reporting Council’s (FRC) draft amendments to UK GAAP but highlights areas that need further consideration, including the approach to lease accounting requirements and the proposed effective date.

Burberry: lessons in adopting TCFD

23-01-2023

Luxury retailer Burberry started early with TCFD reporting. Its efforts were highly commended at the 2022 Finance for the Future Awards.

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