Technical roundup 31 July

Jul 29, 2020

Chartered Accountants Ireland


  • The Financial Reporting Council (FRC) has issued two Exposure Drafts proposing amendments to UK and Ireland accounting standards.  Both reflect topical issues. FRED 75 Draft amendments to FRS 104 – Going concern proposes to: clarify the requirement to assess the going concern basis of accounting; and require the disclosure of any related material uncertainties, when preparing interim financial statements in accordance with FRS 104. FRED 76 Draft amendments to FRS 102 and FRS 105 – COVID-19-related rent concessions proposes explicit requirements for accounting for temporary rent concessions for operating leases occurring as a direct consequence of the COVID-19 pandemic, and within a limited timeframe.  Both comment periods end on 1 September 2020.
  • The IASB and the UK Endorsement Board invite you to a joint outreach event on 6 August 2020 to discuss the proposals in the IASB's General Presentation and Disclosures Exposure Draft.
  • The FRC has issued a revision to its Technical Actuarial Standard for work supporting Funeral Plan Trusts (TAS 400).


  • EFRAG, the Dutch Accounting Standards Board and the IASB invite you to an outreach event on 16 September to present and discuss the IASB Exposure Draft General Presentation and Disclosures.


  • The July 2020 IASB Update has been published and the work plan has been updated. The Board met remotely on 22–23 July 2020. 
  • The IAASB invites interested stakeholders to complete an online survey sharing their experience with, and providing feedback relating to, the Auditor Reporting Standards that were issued in 2015. The Survey also asks for input on experiences with ISA 720 (Revised), The Auditor’s Responsibilities relating to Other Information.