Chartered Accountants Ireland
Ireland
UK
- Accountancy Europe have issued their June SME Update.
- The Eumedion Foundation based in the Netherlands has published a position paper 'Towards a global, investor focused standard setter for corporate non-financial reporting' calling on the IFRS Foundation to establish such a standard-setter.
- Following an EFRAG Board meeting earlier in the week, the European Financial Reporting Advisory Group (EFRAG) has issued final endorsement advice on ' Extension of the Temporary Exemption from Applying IFRS 9 (Amendments to IFRS 4)'.
- In February 2020, the European Commission (EC) launched an initiative to review the European Non-Financial Reporting Directive, One of the aspects of the review looks at whether to mandate the use of a common set of non-financial reporting standards and whether these should be especially developed European standards. The EC has now sent two letters to EFRAG asking it to undertake preparatory work for the possible elaboration of such standards.
International
- The IFRS Foundation has appointed 21 new members and one observer to the SME Implementation Group (SMEIG) for a three-year term starting 1 July 2020.
- On 7 July 2020, IASB member Ann Tarca delivered a speech at the virtual annual conference of the Accounting & Finance Association of Australia and New Zealand (AFAANZ). She discussed digital reporting and included questions for practitioners, standard-setters and researchers.