Technical roundup 9 October

Oct 08, 2020

Developments of interest this week are outlined. 

UK

  • The FRC became a signatory to Women in Finance Charter in 2018 and last month they provided an annual update to the Treasury on the commitments and progress made. 

European

  • The EFRAG, along with the IASB, will be hosting an outreach event on 16 October 2020 to discuss how to improve dis­clo­sures regarding ac­qui­si­tions, enhancing im­pair­ment testing and accounting for goodwill. 

International                                       

  • At a recent meeting of the International Forum of Accounting Standard Setters (IFASS), the standard setters of New Zealand and Australia presented on going concern dis­clo­sures and on the basis of prepa­ra­tion where an entity is no longer a going concern.
  • The Staff of the American Institute of Certified Public Accountants (AICPA), the International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) this week jointly released the publication Using Specialists in the COVID-19 Environment: Including Considerations for Involving Specialists in Audits of Financial Statements.