Technical roundup 20 April

Apr 19, 2018

Developments of interest this week are outlined.

ROI

  • On 9th April 2018 the Property Services Regulatory Authority (PSRA) issued revised application forms for licence renewal applications (PSRA/S35 – Renewal ABC where client accounts are held and PSRA/S35 - Renewal D where service charges and/or sinking fund contributions are paid into a "relevant account”) in accordance with the Property Services (Regulation) Act 2011 (Client Moneys) Regulations 2012 (“the Regulations”).  These new renewal forms replace the 2017 versions and should be used in making 2018 applications for renewals.
  • The Central Bank of Ireland has issued its Quarterly Bulletin for 2018 which contains its latest assessment of the Irish and euro area economies
  • The CRO have issued their regular gazette.

UK

  • Responding to the Government’s announcement of an independent review of the Financial Reporting Council’s (FRC) operations, Sir Win Bischoff, Chair of the FRC said: “FRC welcomes independent review of its role and powers to be led by Sir John Kingman…”
  • The FRC is calling on asset managers, pension funds, sell-side analysts, ratings agencies, proxy advisors and sovereign wealth funds to be representatives of the investor community for a new Investor Advisory Group (IAG).
  • The Financial Reporting Lab's Q1 Newsletter has just been issued.

European

  • The European Financial Reporting Advisory Group (EFRAG) is inviting users of the financial statements of insurers to express their views on this change to IFRS financial reporting. IFRS 17 Insurance Contracts is intended to improve the information that is available to users of financial statements of insurance companies and financial conglomerates. Expressions of interest in participating in this outreach are requested by close of business on Friday 11 May 2018.

International

  • The International Public Sector Accounting Standards Board (IPSASB) has published an exposure draft 'Im­prove­ments to IPSAS, 2018', which sets out proposed amend­ments to International Public Sector Accounting Standards (IPSAS) to address issues raised by stake­hold­ers and to converge with amend­ments to IFRSs.
  • The IFRS Foundation’s annual conference in Europe will be held at the InterContinental Hotel Frankfurt, Germany on Thursday 28 and Friday 29 June 2018 which brings together the International Accounting Standards Board Members and staff with other leaders in financial reporting from the private sector and regulatory bodies.