Financial reporting brief
The first quarter of 2010 was a period of relative calm with no new standards but there is much on the agenda for the rest of the year – the IASB was busy with such topics as accounting for liabilities, the conceptual framework and other developmental matters. The ASB is busy grappling with the responses to its consultation paper on the future of UK GAAP.
In Ireland IAASA published its observations on financial reporting highlighting those areas likely to be the focus of their review process in 2010. Corporate governance was a centre of attention with the launch of ‘SWIFT 3000: 2010 Code of Practice for Corporate Governance Assessment in Ireland’ and the Irish Stock Exchange publishing its report on compliance by Irish listed entities with the Combined Code. Provisions in relation to financial reporting and corporate governance disclosure requirements introduced by S.I. 450 in 2009 were amended by S.I. 83 2010.
Download the full financial reporting brief below.