Technical roundup 7 December

Dec 06, 2018

Developments of interest this week are set out below. 

Ireland                 

UK

  • The FRC have published a report on their thematic review considering the auditors’ work on the Other Information in the Annual Report. The report can be read here.
  • The FRC’s Financial Reporting Lab is calling for investors and companies of all sizes to participate in a new project which will explore best practice disclosures around the sources and uses of cash. It will consider how reporting on the location, nature and availability of cash within a group, as well as future uses of cash, can be presented in a way that is most useful to investor decision-making.

European

  • EFRAG has published its response to the request for technical advice from the European Commission on the accounting for equity instruments from a long-term investment perspective. In May 2017, EFRAG received a request for technical advice from the European Commission (EC) on the accounting treatment of equity instruments under IFRS 9 Financial Instruments from a long-term investment prospective and EFRAG has now published its response to the EC request.
  • The European Securities and Markets Authority (ESMA) has published its annual market share calculation for EU registered credit rating agencies.