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The latest from the FRC’s Lab
This month, the Director of the FRC’s Lab, Phil Fitzgerald, provides an insight into its latest activities.
The FRC’s Financial Reporting Lab seeks to develop market-led innovative solutions to corporate reporting challenges faced..
Online Published Date:
04 October 2018
Appeared in issue:
21.08 - 10 November 2018
Financial Instruments with Characteristics of Equity
The IASB has recently published its Discussion Paper (DP) on Financial Instruments with the Characteristics of Equity (FICE), which aims to improve the classification of certain complex financial instruments that companies have issued and to enhance..
Online Published Date:
04 October 2018
Appeared in issue:
21.08 - 10 November 2018
The Joint IASB FASB meeting – continued
As reported in the last edition, the IASB and FASB recently held a joint meeting to update each other on their work and to share experiences and ideas. The frank discussion between the two Boards proved both instructive and enjoyable. This article..
Online Published Date:
04 October 2018
Appeared in issue:
21.08 - 10 November 2018
Updates to standards and other news
While some people were taking summer breaks, FASB has been busy in the past two months. It has published an Accounting Standards Update (ASU) as the culmination of its work on long-term insurance contracts, an ASU on cloud-computing arrangements and..
Online Published Date:
04 October 2018
Appeared in issue:
21.08 - 10 November 2018
New Chairman of the IFRS Trustees
A former Governor of the Finnish Central Bank, Mr Erkki Liikanen, has been appointed as the Chairman of the IFRS Foundation Trustees succeeding Mr Michel Prada, who has served as Chairman since 2011.
It has been no easy task for the IFRS..
Online Published Date:
04 October 2018
Appeared in issue:
21.08 - 10 November 2018
Historic IASB Meeting
The IASB meeting in July meeting had a certain poignance as it was the last one in its offices in Cannon Street which has been its home for the past 17 years, before moving to its new home at Canary Wharf. Board members, staff and visitors will no..
Online Published Date:
04 October 2018
Appeared in issue:
21.08 - 10 November 2018
Editorial
This month’s newsletter contains the second instalment of the update on the joint meeting of the FASB and IASB. The extent to which the two Boards are grappling with the same challenges is striking. That they face similar issues is, to some..
Online Published Date:
04 October 2018
Appeared in issue:
21.08 - 10 November 2018
Endorsement of Insurance Standard
EFRAG is part way through its endorsement process for IFRS 17, the insurance contracts standard. In an unusual step, it has written to the IASB expressing its concerns about a number of issues that have emerged during its field testing and outreach..
Online Published Date:
04 October 2018
Appeared in issue:
21.08 - 10 November 2018