ISSB publishes its digital sustainability taxonomy
Financial Reporting | 30 April 2024
The International Sustainability Standards Board (ISSB) has published the IFRS Sustainability Disclosure Taxonomy enabling investors to search, extract and compare sustainability-related financial disclosures.
IFAC proposes enhancements to International Education Standards
Financial Reporting | 24 April 2024
The International Federation of Accountants (IFAC) has announced proposed amendments to the International Education Standards introducing sustainability reporting concepts and embedding them across aspiring professional accountants’ training. The deadline for comments is 24 July 2024.
IASB embarks upon comprehensive review of accounting for intangibles
Financial Reporting | 23 April 2024
The International Accounting Standards Board (IASB) has launched an in-depth review of accounting requirements for intangibles, assessing whether the extant requirements of IAS 38 Intangible Assets should be improved to fairly reflect current business models.
ISSB to commence research projects about risks and opportunities related to nature and human capital
Financial Reporting | 23 April 2024
The International Sustainability Standards Board (ISSB) has announced its intent to undertake projects researching the risks and opportunities associated with biodiversity, ecosystems and ecosystem services as well as with human capital. The ISSB will then assess and define the limitations with current disclosure in these areas and ultimately decide whether standard setting is required.
IASB publishes Business Combinations under Common Control project summary
Financial Reporting | 17 April 2024
The International Accounting Standards Board (IASB) has concluded its project on Business Combinations under Common Control (BCUCC) publishing a project summary which explains the reasons behind its decision in November 2023 not to develop requirements for reporting BCUCCs.
IPSASB proposes amendments considering IFRIC interpretations
Financial Reporting | 16 April 2024
The International Public Sector Accounting Standards Board (IPSASB) has launched a consultation on proposed amendments based on five IFRS Interpretations Committee interpretations which the IPSASB had not considered. The deadline for comments is 17 June 2024.
IAASB releases new strategy and work plan
Audit and Assurance | 11 April 2024
The International Auditing and Assurance Standards Board (IAASB) has published a new strategy and work plan for 2024 – 2027 aimed at enhancing consistency and quality of audit and assurance standards worldwide. Highlights include completing the fraud, going concern and sustainability assurance projects and commencing new projects such as establishing an IAASB Technology Position.
IESBA releases new strategy and work plan
Ethics | 11 April 2024
The International Ethics Standards Board for Accountants (IESBA) has published its strategy and work plan for 2024 – 2027 setting out its strategic roadmap to place ethics at the heart of corporate decision-making. Highlights include an expansion of activity to address culture and governance at accounting firms and an exploration of increased scope and applicability of the IESBA Code to all individuals who perform the same activities as professional accountants.
IFAC sets out key areas where updated knowledge is required by accountants to meet increasing sustainability demands
Financial Reporting & Audit and Assurance | 10 April 2024
The International Federation of Accountants (IFAC) has issued a publication which lays out four key areas where accountants need to update their knowledge and skills to meet the growing demand for high-quality sustainability information. These are technical expertise, business acumen, behavioural competence and ethics and professional values.
IASB announces new Standard to aid investor analysis of companies’ financial performance
Financial Reporting | 9 April 2024
The International Accounting Standards Board (IASB) has unveiled new standard IFRS 18 Presentation and Disclosure in Financial Statements. The standard introduces three sets of new requirements to improve companies’ reporting of financial performance and give investors a better basis for analysing and comparing companies.
PCAOB launches consultation on two public reporting proposals
Audit and assurance | 9 April 2024
The Public Company Accounting Oversight Board (PCAOB) has issued for public comment a proposal regarding public reporting of standardised firm and engagement metrics as well as a proposal regarding the PCAOB framework for collecting information from audit firms. If adopted, the proposals will require certain registered public accounting firms to publicly report specified metrics and facilitate the disclosure of more complete, standardized, and timely information. The deadline for comments is 7 June 2024.