Technical roundup 9 November

Nov 08, 2018

Developments of interest this week are set out below. 


  • The European Securities and Markets Authority (‘ESMA’) has published its annual statement titled European common enforcement priorities for 2018 annual financial reports which sets out those topics which company directors, Audit Committees and auditors should particularly consider when preparing, reviewing and auditing International Financial Reporting Standards (‘IFRS’) financial statements for the year ending 31 December 2018. European national accounting enforcers, including IAASA, will use the ESMA topics in their examinations of companies’ 2018 financial statements with the aim of promoting consistent application of IFRS by European companies in their financial statements
  • The CRO have issued their regular gazette.


  • The Financial Reporting Council (FRC) has this week published two thematic reviews to help companies improve the quality of their corporate reporting in relation to the new accounting standards IFRS 9 ‘Financial Instruments’ and IFRS 15 'Revenue from Contracts with Customers’. 
  • Smaller companies should provide more specific disclosures of significant accounting judgements and more quantitative information on key sources of estimation uncertainty according to a new report by the FRC - Reporting By Smaller Listed and AIM Quoted Companies.



  • The IFRS Foun­da­tion has announced the launch of its tech­nol­ogy ini­tia­tive. This ini­tia­tive will consider how changes in tech­nol­ogy may affect the work done by the IASB in certain areas.