Consultations

Accounting / BEIS consults on streamlining energy and carbon reporting

The Department for Business, Energy and Industrial Strategy (BEIS) is consulting on proposals for streamlined energy and carbon reporting within the Companies Act 2006 business reporting framework, in a bid to reduce administrative burdens, raise awareness of energy efficiency, reduce bills, and save carbon

Accounting / IASB consults on narrow-scope amendments to IFRS 9 and IAS 28

The International Accounting Standards Board (IASB) is consulting on minor amendments to IFRS 9 Financial Instruments and to IAS 28 Investments in Associates and Joint Ventures to aid implementation, even before IFRS 9 is implemented

Accounting / IASB consults on definition of material information in IAS 1 and IAS 8

The IASB has launched a consultation on proposed clarifications to IAS 1 Presentation of Financial Statements and IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors centring on the definition of ‘material’ information in financial statements  

Accounting / IASB to clarify how to distinguish accounting policies from estimates

The International Accounting Standards Board (IASB) is consulting on proposed narrow scope amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors to make it easier for company preparers to make the distinction between accounting policies and accounting estimates

Accounting / BCBS consults on future of fintech for banking regulators

The Basel Committee on Banking Supervision is consulting on the implications of fintech for the financial sector, and how technology will affect the role of supervisory bodies

Accounting / FRC to remove estimated cashflow reporting in statements

The Financial Reporting Council (FRC) has published feedback to its consultation on improving the statement of cashflows with the majority of respondents agreeing with proposals that estimated cashflows should not be reported in the statements and that the direct method statement should continue to be allowed 

Accounting / FRC defers FRS 102 update to reflect IFRS changes

The Financial Reporting Council (FRC) has said it needs to undertake more evidence-gathering before updating FRS 102 to reflect recent changes in IFRS, to give organisations more time to get used to IFRS

Accounting / FRC consults on revised PN 12 money laundering guidance

The Financial Reporting Council (FRC) is consulting on proposed updates to the guidance for auditors relating to their responsibilities under UK law in terms of money laundering, and plans to make the revised material an appendix to ISA (UK) 250: Consideration of Laws and Regulations in an Audit of Financial Statements

Accounting / IASB reviews financial guarantees under IFRS for SMEs standard

The International Accounting Standards Board (IASB) has issued draft guidance for consultation for the IFRS for SMEs standard about the treatment of financial guarantees issued by a parent company in their financial statements

Accounting / IASB to amend IAS 16 to reduce PPE reporting discrepancies

The International Accounting Standards Board (IASB) has proposed narrow scope amendments to IAS 16 Property, Plant and Equipment to reduce the diversity in application of the standard

Accounting / IASB seeks feedback on IFRS 13 fair value measurement

The International Accounting Standards Board (IASB) is seeking stakeholders’ views about their experience with IFRS 13, the accounting standard that explains how to measure the ‘fair value’ of assets and liabilities, to address problems identified with disclosure requirements

Accounting / Consultation on revisions to global valuation standards

Global standard setter the International Valuation Standards Council (IVSC) has opened a consultation on future revisions to the international valuation standards (IVS) in a number of areas, despite only publishing IVS 2017 in January

Accounting / Marshall: taking stock of FRS 102 - triennial review

Andrew Marshall FCA, senior technical partner at KPMG, outlines the proposed changes to FRS 102 accounting rules from definition of financial instruments to property investments and directors’ loans, with signs some treatments may revet to old UK GAAP

Accounting / FRS 102: three-year review proposes revisions to directors' loan accounting

In the first triennial review of new UK GAAP, the standard setter is considering changes to reporting of directors’ loans, investment property and the definition of financial instruments. Anne Cowley ACA assesses the proposals and impact on company reporters

Accounting / IASB consults on improvements to disclosures in financial statements

The International Accounting Standards Board (IASB) is consulting on future steps to improve the quality and effectiveness of disclosures in financial statements with a view to overhauling IAS 1 Presentation of Financial Statements
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