Technical roundup 9 March

Mar 08, 2018

Developments of interest this week are outlined.

ROI

  • The CRO have issued their regular gazette.

UK

  • The Financial Reporting Council (FRC) is hosting a panel discussion to explore the possible benefits and barriers to implementing IFRS 17. The panel members will give different perspectives on IFRS 17, including an insurer’s and accountant’s view. The FRC contributes to the European endorsement process of IFRS 17 and notes that the outcome of discussions will feed into the assessment whether the new accounting standard should be endorsed in Europe or not. The event is on Tuesday 24 April 2018. Read more here.
  • The FRC will also host a panel discussion on the practical implementation of the revised Technical Actuarial Standards, at its breakfast seminar on 15 March 2018. Read more here.
  • FRC Podcast series: In this recently issued podcast, David Styles, Director of Corporate Governance, FRC, speaks about the revised UK Corporate Governance Code and how it will help promote trust in business for long term sustainable growth in the UK economy post Brexit.
  • The Prudential Regulation Authority (PRA) has recently issued ‘PRA Regulatory Digest’ for the month of February 2018. This digest is for people interested in the UK financial services industry and highlights key regulatory news and publications delivered for the month.

Europe

  • Accountancy Europe recently issued a position paper on “Sustainable Finance – The accountancy profession’s contributions to EU strategy. It can be read here.
  • EFRAG commissioned a perception audit to assess levels of awareness of EFRAG and its work in the financial reporting community and to provide a snapshot of the organisation’s progress in delivering on its European public interest mission. The perception audit took place in the final quarter of 2017 and the report from an independent audit of stakeholder perceptions was published recently. Read more here.

International

  • The IASB has issued the March 2018 edition of its newsletter 'Investor Update'.  
  • The B20 has tapped IFAC (International Federation of Accountants) as a Network Partner to its Compliance & Integrity taskforce focused on anti-corruption, and has added three IFAC leaders to taskforces on Integrity & Compliance, Financing Growth & Infrastructure, and SME Development. Read more here.