Displaying 1-29 of 29 results
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The challenges of applying UK GAAP to stablecoins
- Article
- 27 Mar 2026
This article explores the key accounting considerations for holders of stablecoins under FRS 102, highlighting areas where judgement is required and where practice may continue to evolve as both the market and regulatory landscape develop.
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Major UK banks ECL capabilities have improved
- Article
- 30 Oct 2025
The PRA finds that major UK banks have improved their IFRS 9 Expected Credit Loss (ECL) capabilities but that certain risk remain elevated and encourages the banks to continue to look at challenging and enhancing their processes.
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Liquidity, the US “Held to Maturity” (HTM) classification and High-Quality Liquid Assets
- Article
- 12 Aug 2025
Banks hold liquid assets to meet their short-term obligations, including to manage through market disruption or other stress events.
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Issues with Building Society audits
- Article
- 13 Mar 2025
The BSA has called for the “vast majority of building societies to be removed from the scope of Public Interest Entities audits1” due to excessive audit costs. More may be needed.
Chart of the week: ECB balance sheet
- Article
- 07 Mar 2025
Our chart this week takes a look at the balance sheet of the European Central Bank, the central bank for the Eurozone.
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Crypto custody shake-up: How SEC & FASB are rewriting the rulebook for US banks
- Article
- 04 Mar 2025
The Securities and Exchange Commission (SEC) has recently updated its guidance on the accounting treatment of crypto-assets held by entities for their platform users. This update involves the rescission of Staff Accounting Bulletin (SAB) No. 121 and the introduction of SAB No. 122.
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ICAEW’s response to the FCA’s Safeguarding Consultation
- Article
- 21 Jan 2025
The Institute of Chartered Accountants in England and Wales (ICAEW) recently provided their feedback to the Financial Conduct Authority (FCA) regarding proposed changes to the safeguarding regime for payments and e-money firms. The consultation, which concluded on December 17, 2024, aimed to gather insights and opinions on the potential impacts of these regulatory adjustments.
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Accounting for Dynamic Risk Management: challenges for insurers
- Article
- 07 Nov 2024
It seems likely that the IASB’s current proposals for accounting for dynamic risk management (DRM) will not help insurers better present their risk management approaches. Standard setters and the industry will need to undertake further thinking to develop a suitable accounting framework for DRM within insurers.
Going concern lessons from Silicon Valley Bank
- Article
- 17 Sep 2024
Reuben Wales examines some of the key tenets of proposed guidance on accounting and reporting on going concern through the lens of the Silicon Valley Bank collapse.
FRC thematic reviews: offsetting ‘not meeting standards’
- Article
- 13 Sep 2024
The regulator’s latest thematic reviews look at first time adoption of IFRS 17 and common errors in the reporting of offsetting.
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IASB finds that IFRS 9’s impairment requirements are working well
- Article
- 23 Aug 2024
After six years of IFRS 9, during which it has been significantly tested by Covid-19 and the cost-of-living crisis, the IASB has found the impairment requirements of the standard to be working as intended.
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Motor Finance: investigation if widespread misconduct
- Article
- 05 Jul 2024
In January 2024 the FCA announced it will investigate whether there is historical evidence of widespread misconduct in relation to sales of motor finance.
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IFRS 18: Financial services considerations
- Article
- 01 Jul 2024
The International Accounting Standard Board recently published IFRS 18, Presentation and Disclosure in Financial Statements. While much of the material is carried across from IAS 1, there are some new requirements, notably affecting the profit and loss disclosures.
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Attesting time for financial services
- Article
- 01 Jul 2024
ICAEW’s Financial Services Faculty highlights the potential implications of the new Corporate Governance Code attestation requirement on banks and insurers.
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IFRS 9 Financial Instruments and procyclicality
- Article
- 27 Oct 2023
Earlier this year the IASB launched a call for evidence as part of its post implementation review of the impairment requirements in IFRS 9 Financial Instruments. Some respondents to the call for evidence pointed out that the impairment model in IFRS 9 is procyclical, a point also discussed by the ECB in a working paper published in June 2023.
Why an insurance crisis isn’t on the cards
- Article
- 15 May 2023
Banks and insurers are both balance sheet businesses. But different business models and risks explain why insurers are less likely than banks to be affected by recent economic events.
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Similarities and differences between UK banks and insurers
- Article
- 24 Apr 2023
Banks and insurers are both balance sheet businesses. But there are significant differences in their business models and the risks they face which explain why recent economic events have not had the same effect on insurers as some banks.
After SVB is there still such a thing as a non-systemic bank?
- Article
- 06 Apr 2023
The collapse of Silicon Valley Bank has raised some interesting questions as to the future of regulating banks. Are there lessons to be learned from the US as the Prudential Regulation Authority consults on its “Strong and Simple” regime?
What does accounting have to do with a banking crisis?
- Article
- 27 Mar 2023
The collapse of Silicon Valley Bank has raised questions about financial reporting across the banking sector, and in particular the amortisation of cost approach to accounting for long dated bonds.
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Banks interest margins have increased but for how much longer?
- Article
- 16 Mar 2023
It is the oldest complaint about banks, and it is one that is being heard again. The charge is that, in a period of rising official interest rates, banks are quick to increase lending rates but tardy in raising deposit rates. Savers who looked forward to the end of more than a decade of paltry returns have had to be ultra patient.
What are the lessons learned from SVB’s collapse?
- Article
- 15 Mar 2023
Reuben Wales, ICAEW’s Head of Financial Services, explains how recent interest rate rises played their role in Silicon Valley Bank’s demise.
IFRS 17: Tax transitional rules for long term insurance businesses
- Article
- 14 Nov 2022
Regulations laid before the House of Commons on 10 November 2022 mitigate the tax consequences of adopting IFRS 17 by spreading certain amounts that would otherwise be subject to corporation tax immediately on adoption over 10 years.
Exclusive
How is inflation affecting banking?
- Article
- 26 Sep 2022
Banking’s UK inflation predictions have come thick, fast and as high as a staggering 22%, but far from a casual observer the sector can expect an at best mixed bag of its own side effects from sky high prices.
Could insurance face an innovation crisis?
- Article
- 15 Aug 2022
The insurtech sector is facing a credibility crisis due to rising rates and mounting losses, and only the strongest and most adaptable will survive.
Banks could be caught up in IFRS 17 unexpectedly
- Article
- 27 Jun 2022
Brendan van der Hoek, explores the impact of the new insurance standard, IFRS 17, for banks who are not insurers
Exclusive
How insurable is climate change
- Article
- 24 Jun 2022
The awkward question for governments, insurers and consumers is rearing its head, writes Adam Leach for ICAEW Financial Services Faculty.
UK endorses adoption of IFRS 17
- Article
- 17 May 2022
The new standard will provide greater clarity and comparability in the UK insurance market, which is one of the largest in the world.
IFRS 17 the CSM for annuity contracts debate
- Article
- 25 Nov 2021
The method for amortising the CSM for annuity contracts has been heavily debated in the UK as part of the implementation of IFRS 17 Insurance Contracts.
Exclusive
IFRS9 Accounting for investments in ESG bonds
- Article
- 24 May 2021
James Estlin, Manager, Department of Professional Practice, KPMG UK looks at accounting for interest changes in ESG bonds.
Displaying 1-29 of 29 results