Technical roundup 16 October

Oct 15, 2020

Developments of interest this week are outlined.

Chartered Accountants Ireland

UK

  • The FRC Lab has published a set of tips intended to help companies consider what content to include in a Section 172 statement, how to present it and how to facilitate the process of preparing the statement.
  • With COVID-19 continuing to impact us all, many companies are facing a challenging year-end. While the uncertainty creates risks for annual reporting it also presents opportunities. The FRC Lab has released two short guides which cover some critical areas of focus for 2020 year-ends.

European

  • The European Fed­er­a­tion of Ac­coun­tants and Auditors for SMEs (EFAA) has published the results of a survey that examined the extent of har­mon­i­sa­tion of the accounting for in­tan­gi­bles by SMEs across Europe.
  • The EFRAG have issued an update to their Endorsement Status Report to reflect the endorsement by the EC of Amendments to IFRS 16 Leases Covid 19-Related Rent Concessions.

International