In developments this week, IAASA has published its annual Observations paper highlighting some significant topics that those charged with governance should consider when preparing their financial statements for 2021; A new forum aimed at supporting and improving communications on issues around charity law, regulation and trends has been launched by The Charity Commission for Northern Ireland.
Read more on these and other developments that may be of interest to members below.
Accounting
The International Accounting Standards Board (IASB) have issued the latest issue of their Investor Perspectives edition.
Financial Reporting
IAASA has published its annual Observations paper highlighting some significant topics that those charged with governance should consider when preparing their financial statements for 2021.
The FRC has published the findings of its review of companies’ viability and going concern disclosures which found there were several areas where viability and going concern reporting could be improved. Clear and comprehensive disclosures on these matters are particularly important given the backdrop of the Covid-19 pandemic which caused greater uncertainty for some companies. Uncertainties that impact viability or going concern should be clearly explained to stakeholders.
The FRC has published FAQs on International Sustainability Standards Setting. The purpose of the FAQs is to inform UK company stakeholders of developments in sustainability standard setting by the International Financial Reporting Standards Foundation (IFRS Foundation). This is a fast moving agenda that has the potential to impact corporate reporting significantly in the future.
The Financial Action Task Force (FATF) will host a webinar on “Money Laundering from Environmental Crime” on 30 September. The webinar will discuss important aspects of a recent FATF report on the topic, including how to identify red-flag information to help detect and trace the illicit finances of criminals engaged in environmental crimes. It also looks at how to overcome challenges, such as the lack of governmental or institutional prioritisation, limited awareness and data, de-risking, and limited domestic and international co-ordination. Participants can register here.
Other Areas of Interest
A new forum aimed at supporting and improving communications on issues around charity law, regulation and trends has been launched by The Charity Commission for Northern Ireland.
For further technical information and updates please visit the Technical Hub and the Covid-19 Hub on the Institute website.
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