Technical roundup 12 February

Feb 11, 2021

Developments of interest this week are outlined.

Chartered Accountants Ireland

ROI

  • The Department of Enterprise, Trade and Employment is developing legislation for the rescue of small companies. To inform development of the General Scheme of the Bill, the Department is seeking submissions from interested parties.

UK 

  • The UK Endorsement Board secretariat has published their draft comment letter on the IASB’s ED/2020/4 Lease Liability in a Sale and Leaseback. The draft comment letter is open for comment until 1 March 2021.

Europe

  • Accountancy Europe have published Going concern: recommendations to strengthen the financial reporting eco-system.

International

  • The IASB has published for consultation a proposal to extend by one year the application period of the amendment to IFRS 16 Leases issued in 2020 to help lessees accounting for covid-19-related rent concessions.
  • The IASB has posted the recording of its recent webinar on iden­ti­fy­ing research op­por­tu­ni­ties by academics in IFRS 15 ‘Revenue from Contracts with Customers’.
  • On 1 March 2021, EFRAG, EFFAS, ABAF/BVFA and the IASB offer a joint ex­plana­tory webinar to consider the views of users for the post-im­ple­men­ta­tion review on IFRS 10, 11 and 12.