Technical roundup 19 June

Chartered Accountants Ireland

• Chartered Accountants Ireland has updated the Technical and business updates page on our COVID-19 Hub with updates on Auditing implications of Coronavirus, Financial Reporting implications of Coronavirus and Information for insolvency practitioners.  We have also updated our page on Other Regulator Updates for both ROI and NI / UK in response to COVID-19.  

UK

• Two new reports issued by the Financial Reporting Lab of the UK Financial Reporting Council (FRC) provide practical guidance to companies in areas of reporting that investors have high­lighted as being most critical in these times of un­par­al­leled economic un­cer­tainty.

Europe

• Accountancy Europe has released three publications to shape the debate on non-financial information (NFI) reporting. Accountants have the skills and knowledge to lead this discussion.
• In December 2019 Ac­coun­tancy Europe published a paper de­scrib­ing and calling for a global solution to in­ter­con­nected stan­dard-set­ting that can meet the need for reliable, con­sis­tent in­for­ma­tion in non-fi­nan­cial reporting that is in­ter­con­nected with financial reporting. A follow-up paper has now been made available that analyses the feedback received, provides an update on the latest EU and global de­vel­op­ments, and reflects on a way forward.
• The European Securities & Markets Authority (ESMA) has published its 2019 Annual Report and updated 2020 Annual Work Programme

International

• This week the International Auditing & Assurance Standards Board (IAASB) hosted two different webinars on consultations that are currently open for public comment.