Technical roundup 25 May

May 24, 2018

Developments of interest this week are outlined.

ROI

European

  • The Committee on Economic and Monetary Affairs (ECON) of the European Par­lia­ment this week welcomed rep­re­sen­ta­tives of the European Financial Reporting Advisory Group (EFRAG) for a hearing which took place while EFRAG is working on its draft en­dorse­ment advice on IFRS 17 'Insurance Contracts' and ECON is working on a draft motion for a res­o­lu­tion.
  • Accountancy Europe have responded to the European Commission’s consultation on the review of the SME definition.

International

  • IASB are to explore how technological disruption may influence the outcome of its projects and are looking for a 'Tech­nol­ogy Principal' who will be re­spon­si­ble for a group of projects related to the effect of tech­nol­ogy on financial reporting and stan­dard-set­ting.
  • The World Business Council for Sus­tain­able De­vel­op­ment (WBCSD) has launched the Social and Human Capital Coalition, designed to help companies recognise, measure and value the im­por­tance of people and com­mu­ni­ties. As part of the launch, the Coalition is also opening the Social and Human Capital Protocol for public con­sul­ta­tion until 16 June 2018.
  • Small- and medium-sized practices (SMPs) in a digital, globalized world need to adopt ‘good practices’ to best serve their clients. IFAC (International Federations of Accountants) has released an updated publication —the Guide to Practice Management for Small- and Medium-Sized Practices Fourth Edition (the Guide) to help SMPs meet this challenge.