Technical roundup 17 July

Jul 16, 2020

Chartered Accountants Ireland

Ireland

UK

 Europe

  •  Accountancy Europe (AE) have issued their July Audit Policy Update
  •  AE have issued a second paper in their SME risk management series ‘SME Risk Management – Sustainability’.
  • EFRAG, Business Europe and the IASB are hosting a webinar on Tuesday, 1st September to discuss the application of the IASB proposals for preparers and the experiences of the field testing of the IASB Exposure Draft General Presentation and Disclosures (Primary Financial Statements).

International

  • The International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) have this week welcomed the Monitoring Group’s recently released Paper: Strengthening the International Audit and Ethics Standard-Setting System, aimed at enhancing governance arrangements of the two standard-setting boards. 
  • The International Accounting Standards Board (IASB) has published 'Clas­si­fi­ca­tion of Li­a­bil­i­ties as Current or Non-cur­rent — Deferral of Effective Date (Amendment to IAS 1)' deferring the effective date of the January 2020 amend­ments to IAS 1 by one year.
  • A con­sol­i­dated version of IFRS 17 in­cor­po­rat­ing the June 2020 amend­ments is now available freely on the IASB website. The amend­ments are effective for annual periods beginning on or after 1 January 2023 with earlier ap­pli­ca­tion permitted.