Displaying 10 of 18 results
Coronavirus and IFRS: financial reporting

10 August 2020

Read our comprehensive guide on how coronavirus has impacted IFRS and the implications for financial reporting, outlining the areas you need to be aware of and how to stay on top of your compliance requirements.

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Deferring the filing of accounts

03 July 2020

With so much uncertainty during coronavirus it may be difficult to finalise accounts and get an audit signed off. If you have an imminent filing deadline there are steps you can take to defer filing your accounts at Companies House.

Narrative reporting

14 May 2020

The requirement for a company’s front end to tell the full story of the business has never been more important. Due to coronavirus users of the financial statements will require forward-looking information which provides an insight into the board’s assessment of business liquidity, viability and solvency as well as the methods, assumptions and judgements underlying that assessment.

Dividends and other distributions

14 May 2020

During the coronavirus pandemic, due to the uncertainty of future trading and potential deterioration of financial position from the last annual accounts, entities looking to pay dividends or make other distributions will need to be especially aware of their legal obligations and fiduciary duties, including considering additional factors than they may previously have needed to.

Small and micro entities

14 May 2020

The coronavirus pandemic will have far reaching implications which will require businesses of all sizes including those applying the small company regime and those adopting the micro entity provisions to consider the impact on the preparation of their annual accounts.

Why delay approval of annual report and accounts?

27 March 2020

With so much uncertainty it may be difficult to finalise accounts and get an audit signed off. If no filing or covenant deadlines are coming up it may be advisable to defer the approval of your annual accounts for a short time.

Going concern assessment has not changed

27 March 2020

Coronavirus has not changed the definition of, or responsibilities for, directors and auditors around going concern.

Financial reporting and audit: your choices

27 March 2020

Day by day the advice around coronavirus is changing. This is equally true with regards to how you manage your finances and deal with your accounts. We outline key priorities for businesses and the choices you need to make.

Interest Rate Benchmark Reform – amendments to IFRS 9 and IAS 39
Lee Marshall

30 October 2019

The IASB has issued limited period exceptions from IFRS 9 and IAS 39 in relation to the requirements for hedge accounting. The amendments apply to periods beginning on or after 1 January 2020, with early application permitted.

Proposed FRS 102 amendments in response to interest rate benchmark reform
Lee Marshall

05 August 2019

Interest rate benchmarks such as LIBOR (the London Interbank Offered Rate) are being reformed, however the replacement benchmarks have not yet been determined.