Technical roundup 4 September

Sep 03, 2020

Developments of interest this week are outlined.

ROI

  • Over the last two weeks the CRO hosted their Digital Transformation Update Webinar, showcasing their new system that goes live in 2020. This has been made the webinar available on a YouTube channel, available at this link
  • The Central Bank of Ireland has published the findings of a Thematic Review of the Retail Intermediary Annual Return (RIAR). The Review forms the latest part of a multi-year supervision programme undertaken by the Central Bank to regulate the compliance of firms with annual return reporting requirements

     

European

  • The FRC has published a recording of the joint webinar with the IASB on the General Presentation and Disclosures Exposure Draft held on 6 August 2020. You can view the webinar here. The draft comment letter on the IASB’s General Presentation and Disclosures Exposure Draft is here

International

  • The International Accounting Standards Board has finalised its response to the ongoing reform of inter-bank offered rates (IBOR) and other interest rate benchmarks by issuing a package of amendments to IFRS Standards. The amendments are aimed at helping companies to provide investors with useful information about the effects of the reform on those companies’ financial statements.
  • The IAASB has published illustrative examples for auditing expected credit loss (ECL) accounting estimates. The examples illustrate how an auditor could address certain requirements of ISA 540 (Revised).
  • The COVID-19 pandemic continues to disrupt markets, businesses, and organizations. Since March, the IAASB has published six “Staff Audit Practice Alerts” which can be accessed here