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EFRAG
There is lots of news relating to EFRAG this month; it has now published its advice to the European Commission on accounting for equity instruments from a long-term perspective; it has published a Discussion Paper (DP) on accounting for..
Online Published Date:
21 December 2018
Appeared in issue:
21.10 - 21 December 2018
IFRS 17, Insurance Contracts
Following the Board’s lengthy discussion last month on how it would go about considering whether to amend IFRS 17, Insurance Contracts, in the light of the issues arising from the implementation work being undertaken by the industry, this..
Online Published Date:
21 December 2018
Appeared in issue:
21.10 - 21 December 2018
Autonomy and long-term investment issues
As widely reported in the press, the US Department of Justice has filed criminal charges against Mike Lynch, the former CEO of Autonomy, a British software company, which was sold to Hewlett-Packard in 2011. The charges include 14 counts of..
Online Published Date:
21 December 2018
Appeared in issue:
21.10 - 21 December 2018
Financial Reporting Council
There has been a lot happening at the FRC in the past month and a brief summary of the key matters of interest, with links to the underlying documents for those who would like to pursue them in more detail, is set out below.
Audit - thematic..
Online Published Date:
21 December 2018
Appeared in issue:
21.10 - 21 December 2018
Editorial
The past month has seen the IASB decide to defer the application date of its new insurance standard, IFRS 17, and as a consequence of that, to amend the existing insurance standard, IFRS 4, to permit certain insurers to further defer their..
Online Published Date:
21 December 2018
Appeared in issue:
21.10 - 21 December 2018
IFRS 9 update
This article takes a close look at what supervisors and others are saying about their expectations from banks applying IFRS 9 Financial Instruments for their 2018 year ends.
As reported last month (WAR, October 2018), ESMA chair Steven..
Online Published Date:
21 December 2018
Appeared in issue:
21.10 - 21 December 2018
Areas of focus for forthcoming enforcement work
ESMA coordinates the European Enforcers’ Coordination Sessions (EECS) which aim to promote consistent reporting under IFRS and other EU reporting requirements. Priorities for enforcement for the forthcoming year are publicly announced so as to..
Online Published Date:
21 December 2018
Appeared in issue:
21.10 - 21 December 2018
Primary Financial Statements
The Board continued its discussions on Primary Financial Statements, considering the role of an Earnings Before Interest, Tax and Depreciation and Amortisation (EBITDA) measure; the potential role of templates and examples in the standard; and..
Online Published Date:
21 December 2018
Appeared in issue:
21.10 - 21 December 2018