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Revisions to the Conceptual Framework for IFRS Standards
Danielle Stewart OBE

11 May 2018

The International Accounting Standards Board (IASB) has issued a revised version of its Conceptual Framework for Financial Reporting which underpins IFRS Standards. Companies will need use the new framework from 2020 although the IASB will start using it immediately.

Narrow scope amendments to employee benefits - IAS 19
Danielle Stewart OBE

23 April 2018

The International Accounting Standards Board (IASB) has issued amendments to IAS 19. These specify how companies should determine pension expenses for the accounting period when changes to a defined benefit pension plan occur.

FRC guidance on Board reporting obligations
Danielle Stewart OBE

06 March 2018

The Financial Reporting Council has issued some guidance for the Boards of companies in the construction and business support services sectors, to remind them of their reporting obligations. This guidance has been written for these sectors in the wake of the collapse of Carillion, however the guidance is equally relevant to all companies.

Narrow scope amendments to IFRS 3, IFRS 11, IAS 12 and IAS 23
Danielle Stewart OBE

23 January 2018

In December, the International Accounting Standards Board issued narrow-scope amendments to four IFRS Standards as part of the annual Improvements to IFRS Standards 2015–2017 cycle.

FRS 102: early adoption of amendments could be attractive
Danielle Stewart OBE

18 January 2018

On 14 December 2017, the Financial Reporting Council (FRC) issued Amendments to FRS 102 - Triennial Review 2017 which makes FRS 102 more cost-effective and easier to use as well as providing some useful clarifications.

IFRS 9: immediate recognition of profits or losses from renegotiated debt terms
Danielle Stewart OBE

17 January 2018

From January 2018 IFRS 9 introduces substantial changes to the classification and measurement of financial assets (including the impairment model) and elements of hedge accounting.

FRC advice for preparing 2017/18 annual reports
Danielle Stewart OBE

16 November 2017

The FRC has issued a letter to Financial Directors and Audit Committee Chairs of listed companies outlining key changes and suggesting improvements to UK financial reporting.

RSM's response to FRED 67
Danielle Stewart OBE

29 August 2017

The Financial Reporting Council (FRC) has issued FRED 67 containing draft amendments to FRS 102 following its first Triennial Review. We are very supportive of the FRC’s measured approach of deferring significant change to allow a period of stability. However, we raise three specific points relating to the evolution of the Standard.

IFRS updates to FRS 102 delayed
Danielle Stewart OBE

17 August 2017

The Financial Reporting Council (FRC) has published a feedback statement on the proposed updates to FRS 102 being considered to align with changes to IFRS.

Financial reporting framework questions

29 June 2017

Frequently asked questions we have had around the transition to the new UK GAAP.

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