Chartered Accountants Ireland
UK
- The Financial Reporting Council (FRC) has updated its guidance for companies on corporate reporting to explain how they should report exceptional items and alternative performance measures (APMs) in their reports and accounts, in the context of the Covid-19 crisis.
- The UK Government has now introduced the Corporate and Insolvency Bill to put in place a series of measures to amend insolvency and company law to support businesses impacted by COVID-19.
- To provide companies with additional information upon which to plan activities over the coming months. in respect of Company filings, AGMs and other general meetings during Covid-19 a further Q&A has been jointly produced by BEIS and the FRC.
- The quality of corporate governance and stewardship activity by companies and investors is inevitably of heightened importance during the Covid-19 crisis detailed in a recently issued Corporate Governance Update by the FRC.
Europe
International
- The International Auditing and Assurance Board (IAASB) has released their Revised Work Plan Table for 2020-2021.
- The International Accounting Standards Board (IASB) has issued the second in a series of webcasts related to the Request for Information: Comprehensive Review of the IFRS for SMEs Standard issued on 28 January 2020.
- On 14 May 2020, a web-based outreach event on primary financial statements co-hosted by FSR – Danish Auditors and the Confederation of Danish Industry (DI) with participation of IASB and EFRAG representatives drew a wide international audience. A recording of the event is now available.
- The International Ethics Standards Board for Accountants (IESBA) Staff have released COVID-19 Q&As Highlighting Ethics & Independence Considerations.