Financial Reporting Brief - July 2012
The second quarter is perhaps most notable for the focus on responding to economic uncertainties, going concern considerations and stewardship/governance concerns.
The work plan for international standards evolves and many issues remain in progress.
Financial and market regulation continues to receive attention with additional areas in focus.
Documents have been published on (1) going concern assessment and reporting, (2) update on responding to heightened country and currency risk, and (3) proposed revisions to the UK Corporate Governance Code.