Technical roundup 22 January

Jan 21, 2021

Developments of interest this week are outlined.

ROI

  • IAASA has published a further compendium of financial reporting decisions. 
  • Following the end of the transition period on 31 December 2020, the UK is now a third country under statutory audit legislation. UK registered auditors who wish to audit entities incorporated in the Republic of Ireland (ROI) will now need to register as third country auditors under the process set out in ROI law. To facilitate this, IAASA has agreed a Memorandum of Understanding on Reciprocal Arrangements (MOURA) with the FRC.

UK

  • The Financial Reporting Council (FRC) invites you to a webinar on 4 February to hear further details about its recent consultation to revise the quality management standards applicable to UK audit and accounting firms.

Europe

  • Hilde Blomme, Accountancy Europe and Professor Ann Jorissen discuss the topic of reflections on opportunities and challenges for the profession with respect to the disclosure and reporting of non-financial information.

International

  • The meeting summary from the Accounting Standards Advisory Forum meeting held on 10 December 2020 is now available.
  • The IFRS Foundation is holding a live webinar on 27 January on the International Accounting Standards Board’s (Board) consultation on business combinations under common control.