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 highlights new and modified requirements for preparers of UK GAAP accounts for accounting periods beginning on or after 1 January 2021.
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The end of the transition period brought into effect changes in company law that have an impact on the preparation of the annual report and accounts. This guide outlines some of the practical implications.
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This guide outlines the accounting requirements under FRS 102 when loan contract terms are renegotiated together with illustrative examples.
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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.
ICAEW’s response to the BEIS consultation on restoring trust in audit and corporate governance did not conclude work on reform - it launched a mass of activity around numerous topics involving a multitude of stakeholders.
A revised strategy published by the European Commission sets out a long list of additional actions to finance the transition to sustainability, strengthening the financial sector’s resilience to risks and combatting greenwashing.
The IASB is calling for comments on a proposed new approach to developing disclosure requirements in IFRS Standards - a potential change that should be on all chartered accountants’ radars.
A concerted build-up of sustainability-related activity by the IFRS Foundation is underlining the standard-setter’s commitment to using its clout to address climate change.
The coming together of the IIRC and SASB to create the Value Reporting Foundation is aimed at providing a suite of tools to assess, manage and communicate value.
With COP26 putting climate change and sustainability under the spotlight, listed businesses with accounting periods beginning on or after 1 January 2021 realistically have less than six months to get their house in order, says Maria Kepa, a director in EY’s corporate governance team.
The government’s reform of the UK’s corporate governance regime includes potential new requirements for large companies to disclose information on distributable reserves - a proposal that comes with a unique set of challenges.
The accounting treatment for rent concessions granted directly as a result of COVID-19 now applies to reductions in lease payments originally due on or before 30 June 2022
ICAEW’s public sector team examines some key differences between International Financial Reporting Standards and International Public Sector Accounting Standards, and the suitability of each in public sector financial reporting.
ISA (UK) 701 introduces changes to key audit matter disclosures in the auditor’s report relating to materiality. Louise Sharp, Manager in ICAEW’s Audit and Assurance Faculty, provides a reminder of the new requirements.