Financial Reporting Brief - January 2012
Further developments in financial reporting standards, with revenue recognition and financial instruments to the fore.
Both European and U.S. enforcement authorities continue to push for better standards, in particular, consistency of application and improved disclosure.
Corporate governance was a focus of attention with matters including boardroom diversity, going concern and a review of Codes introduced in 2010.
The Central Bank continued its strengthening of the regulatory and supervisory framework for financial services entities.