Highlights of the latest guidance published by the Corporate Reporting Faculty as well as news and insights on current developments in financial reporting.
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This guide helps non-insurers determine whether, and to what extent, they may be affected by the standard.
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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.
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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.
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Factors to consider when doing a going concern assessment and the practical implications for financial reporting.
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Factors for preparers of micro-entity accounts to consider when doing a going concern assessment and the practical implications for financial reporting.
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This guide summarises management’s responsibilities for assessing going concern and the associated practical implications for financial reporting under IFRS.
The regulator’s latest thematic review identifies common challenges in the reporting of discount rates based on analysis of annual reports.
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Summarising the requirements of FRS 102 for basic and other financial instruments, this factsheet includes practical tips and illustrative examples.
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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.
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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.
Getting started on the journey towards reporting on nature issues may be easier than you think – incorporating it into climate disclosures could be the first step.
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.
In its response to the government’s call for evidence on non-financial reporting, ICAEW has outlined how it would like the UK government to develop and improve its reporting framework.
ICAEW’s response to the FRC’s consultation on revisions to the Corporate Governance Code stresses that the future of corporate governance is as much about nurturing good behaviours as it is about preventing corporate failures.
The tone of recent policy announcements risks undermining progress of investment in green businesses and innovations, says the UK SIF open letter to Prime Minister.
That sustainability needs to be baked into corporate reporting has long been apparent, but which standards should be adopted? Stephen Zeff speculates on the relative influence of the ISSB and EFRAG.
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.
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.
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.
Analysis by the IFRS Foundation shows consistency between IFRS S2 Climate-related Disclosures and four core recommendations and 11 recommended disclosures published by the TCFD.
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.
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.
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.
The EU Commission has formally adopted new standards for sustainability reporting which are set to come into effect for large, listed companies from 2024.
Former CAA chief Richard Moriarty will be taking the helm at the FRC and leading its transformation into the new Audit, Reporting and Governance Authority.
Asset management, banking and energy are among sectors that will receive additional guidance on creating and disclosing climate transition plans, confirms Treasury taskforce.
IASB review seeks stakeholders’ views on whether revenue recognition standard is working as it should – with costs and benefits of implementation a central concern.
Long-awaited audit and corporate governance proposals are put forward by government, but missing elements of the reform jigsaw – including ARGA establishment and PIE definition – still needed, ICAEW warns.
Burberry was an early adopter of climate reporting. Here, the modern British luxury brand shares the five things that would have been good to know right from the start.
Finance profession welcomes revised standards for buying companies time – but ESG thought leaders in civil society organisations weigh in with concerns and critiques.
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.
As activity around non-financial reporting rules increases, candidates are sought for the role of Chair of the advisory committee, as well as members.
As we reach consensus around sustainability reporting standards, impact investors have done a great deal to define what good data looks like.
A major review of the UK’s corporate reporting framework is to consider rationalising current reporting requirements
Consultation proposal notes that a more cohesive and efficient approach to corporate reporting would boost the quality of data available to the investment community.
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.
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 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.
Chairs stress that close collaboration between their two bodies ultimately leads to high-quality reporting for end users in the investment community.
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.
Amid dramatic regulatory and climate-based shifts, evaluating the useful economic lives of long-term physical assets is a responsibility that no corporate can afford to ignore.
Initiative follows consultation results indicating that companies tend to view climate risks as remote and long term in nature.
Reflecting that reporting today is about much more than financial information, ICAEW’s Financial Reporting Faculty is changing its name to the Corporate Reporting Faculty.
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.
Early engagement with users of financial statements and consideration of digital reporting implications of new disclosure requirements among changes outlined by the body responsible for development of IFRSs.
ISSB ramps up activities to support global implementation as it prepares for inaugural standards to be issued in the summer.
ICAEW welcomes the rejection of a reintroduction of amortisation of goodwill following evidence gathered in the IASB’s Business Combinations project.
Financial institutions and their intermediaries require sectoral standards on sustainability reporting rules for clarity and coherence, argues ECB.
ICAEW’s Financial Reporting Faculty has published a new factsheet – its first focused on sustainability reporting.
Luxury retailer Burberry started early with TCFD reporting. Its efforts were highly commended at the 2022 Finance for the Future Awards.