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Editorial

Online Published Date : 17 April 2019 | Appeared in issue: 22.02 - 01 March 2019

In early February, I was lucky to have the chance to spend an hour with EFRAG CEO and chairman of its Technical Expert Group (TEG), Andrew Watchman, before his term of office finishes this month. The EFRAG Board was set up in 2014 as a result of a..

IFRS 17, Insurance contracts

Online Published Date : 17 April 2019 | Appeared in issue: 22.02 - 01 March 2019

As previously reported, the IASB is making good progress in working through the list of topics that its constituents have identified as issues with IFRS 17. The Board is deciding in each case whether to amend the standard in order to reduce the..

CECL model

Online Published Date : 17 April 2019 | Appeared in issue: 22.02 - 01 March 2019

In June 2016, the FASB finalised Accounting Standards Update (ASU) 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses, that introduced the new current expected credit loss (CECL) model, the FASB equivalent..

Editorial

Online Published Date : 30 April 2019 | Appeared in issue: 22.03 - 30 April 2019

Last month saw the launch of the European Reporting Lab at a conference in Brussels. Vice-president Dombrovskis gave the keynote speech explaining how the Commission had given EFRAG the task of establishing a Lab as one of the key objectives in its..

European Reporting Lab

Online Published Date : 30 April 2019 | Appeared in issue: 22.03 - 30 April 2019

In March this year, EFRAG Lab hosted a conference, Fostering Innovation in Corporate Reporting. The event served two purposes, first, it launched the new Lab and, secondly, it obtained input from the participants about how the Lab might tackle its..

Kingman Review – Audit issues

Online Published Date : 30 April 2019 | Appeared in issue: 22.03 - 30 April 2019

As previously reported in WAR, the report issued last year by the Kingman Review1 of the FRC covered all aspects of the regulator’s work and the way in which it operates. This article looks in more detail at what the recommendations had to say..