Highlights of the latest guidance published by the Financial Reporting Faculty as well as news and insights on current developments in financial reporting.
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This factsheet provides an overview of IFRS 16 together with practical tips and examples. It has been updated for recent amendments.
Factors to consider when preparing financial statements – updated for 2020 and early 2021 year ends.
Factors to consider when preparing micro-entity accounts – updated for 2020 and early 2021 year ends.
Going concern and impairment considerations for those preparing accounts under FRS 102 or FRS 105 with late 2020 or early 2021 year-ends.
A guide to the accounting implications of changes to contracts with customers as a result of the pandemic.
Environmental, social and governance risks are both business and investment risks, and chartered accountants are at the heart of reporting on them as well as the financials.
ICAEW has backed government moves to improve the quality of reporting around climate-related risk but warned that changes risk overwhelming organisations with their complexity.
Existing rules around viability reporting are not achieving what they need to. The government has proposed a new annual resilience statement by public interest entities to fix the problem.
Chartered accountants must understand their unique role in making a sustainable future happen, argues Peter Bakker, CEO of the World Business Council for Sustainable Development.
The European Commission has released the results of its legislative review of corporate reporting in the EU. While comprehensive changes are underway to enhance sustainability reporting in the EU, financial reporting is assessed as being broadly fit-for-purpose.
The draft Corporate Sustainability Reporting Directive adopted by the European Commission this week could be a game-changer for corporate reporting in Europe and beyond.
The European Commission has presented long-awaited and comprehensive legal proposals paving the way towards enhanced sustainability disclosures for a large swathe of companies operating in Europe.
The UK Accounting Standards Endorsement Board, the new body responsible for the adoption of international accounting standards for use by UK companies, took a step closer to being formally established this week after it successfully passed through the Scrutiny Committee of the House of Commons.
The Financial Reporting Council is seeking views from ICAEW members as part of a new periodic review of FRS 102.
Efforts to improve the quality, value and integrity of information on the Companies House register are welcome, but the government must proceed with caution when it comes to shortening filing deadlines, says ICAEW.