Technical roundup, 20 March

Mar 20, 2020

Chartered Accountants Ireland

  • Chartered Accountants Ireland has been engaging with some of our key stakeholders and other bodies around the impact of COVID-19 and potential issues with filing deadlines etc.  We have received a number of responses which are available on our website. There are also links to a number of other matters that members may find useful.


  • IFRS Foundation has recently published guidance on the application of the IFRS for SMEs® Standard. Developed by the SME Implementation Group (SMEIG), it responds to a question on the application of the undue cost or effort exemption when measuring an investment property at fair value on transition to the IFRS for SMEs Standard.
  • The International Accounting Standards Board (Board) has completed its discussions on the amendments to IFRS 17 Insurance Contracts that were proposed for public consultation in June 2019.  It has today decided that the effective date of the Standard will be deferred to annual reporting periods beginning on or after 1 January 2023.
  • The IAASB is consulting on its draft non-authoritative EER Guidance in the second phase of its EER Assurance project. EER encapsulates many different forms of reporting including, but not limited to, integrated reporting, sustainability reporting and other reporting by entities about financial and non-financial matters, including environmental, social and governance matters, related to an entity’s activities.  Submissions are requested by 13 July 2020.