Technical roundup 5 July

Developments of interest this week are set out below.   

Chartered Accountants Ireland

• Chartered Accountants Ireland has issued comments on the FRC’s proposed amendments to ISA (UK) 570 – Going Concern and provided views to IAASA on these suggested revisions.

Ireland 

• The CRO has issued its regular gazette.

UK

• The Financial Reporting Council (FRC) has issued a revision of Practice Note 19: The audit of banks and building societies in the United Kingdom.
• In a joint statement, the FRC, the PRA (Prudential Regulation Authority), FCA (Financial Conduct Authority) and the TPR (The Pensions Regulator) have welcomed the UK Government's Green Finance Strategy. 

European

• The European Securities and Markets Authority (ESMA) has issued three opinions on product intervention measures taken by the National Competent Authorities (NCAs) of Sweden, France and the United Kingdom.
• The European Financial Reporting Advisory Group (EFRAG) has issued a draft comment letter on the IASB exposure draft ‘Reference to the Conceptual Framework (Proposed amend­ments to IFRS 3)'.

International

• Participants of the Corporate Reporting Dialogue, an initiative convened by the International Integrated Reporting Council bringing, have issued a paper on transparency and accountability.
• In an effort to facilitate greater consistency, the CAQ International Practices Task Force (the “Task Force”) developed a framework for compiling inflation data to assist registrants in monitoring inflation statistics in connection with their determination of the inflationary status of countries in which they have operations.
• In a webcast, Chair of the IFRS Interpretations Committee and Vice-Chair of the International Accounting Standards Board Sue Lloyd, together with IFRS Foundation staff member Sam Prestidge, discuss the proposed amendments to the Due Process Handbook.
• The International Public Sector Accounting Standards Board (IPSASB), which develops the of International Public Sector Accounting Standards (IPSAS) for financial reporting by gov­ern­ments and other public sector entities, has released an updated IP­SAS-IFRS alignment dashboard showing how far in­di­vid­ual IPSAS are aligned with cor­re­spond­ing IFRSs.