Financial Reporting Newsletter

Financial Reporting News - June 2023

In this issue, we discuss:

• IASB amends IAS 12 to introduce a temporary exception from accounting for deferred taxes arising from OECD Pillar Two model rules

• IASB amends IAS 7 and IFRS 7 to address supplier finance arrangements

• European Commission consults on delegated regulation for European Sustainability Reporting Standards 

Financial Reporting News - January 2023

In this issue, we discuss some financial reporting issues that may be relevant for years ending on or after 31 December 2022 in view of the current economic and geopolitical environment and also highlight areas of regulatory focus:

• Uncertainty and financial reporting
• Climate-related risks in financial statements
• Sustainability and climate corporate reporting developments

Financial Reporting News - December 2022

In this issue, we discuss:

• IASB issues amendments to IAS 1 regarding the classification of liabilities with covenants 
• IASB amends IFRS 16 to add subsequent measurement requirements for lease liabilities arising from sale and leaseback transactions 

Financial Reporting News - July 2022

In this issue, we discuss the Draft European Sustainability Reporting Standards (ESRS) Exposure Drafts (EDs) issued for public consultation on 29 April 2022 by the Project Task Force of ESRS (PTF-ESRS):

• Background
• Proposed architecture of ESRS
• Reconciliation tables
• Consultation period

Financial Reporting News - May 2022

In this issue, we discuss the proposals for IFRS Sustainability Disclosure Standards, IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information and IFRS S2 Climate-related Disclosures published for public consultation on 31 March 2022 by the International Sustainability Standards Board:  

• Background
• Proposed IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information
• Proposed IFRS S2 Climate-related Disclosures
• Transition, effective date and comment period

Financial Reporting News - March 2022

In this issue we discuss:

• IASB amends the transition requirements of IFRS 17

Financial Reporting News - January 2022

In this issue, we discuss some financial reporting issues that may be relevant for years ending on or after 31 December 2021, as a result of areas of regulatory focus, the current economic environment, or changes in accounting standards:

• Climate change and corporate reporting
• Effects of the COVID-19 pandemic
• Uncertainty and financial reporting

Financial Reporting News - April 2021

In this issue we discuss:

• IASB proposes amendments to the disclosure requirements in IAS 19 and IFRS 13
• IASB  publishes amendment to IFRS 16 to extend the practical relief on COVID-19 – related rent concessions