Other miscellaneous publications and information

Included below are links to other publications and information that may be of relevance or interest:

  • Over recent times much has been issued in terms of advice from regulators, and commentary, regarding various financial reporting considerations related to the spread of COVID-19. We have assembled some information that we have come across that may be of assistance to members on our ‘Financial Reporting implications of Coronavirus’ page in the Institute’s COVID-19 Hub.
  • FRC/BEIS Letter: Accounting and Corporate Reporting during the Transition Period (February 2020) The FRC and Department for Business, Energy and Industrial Strategy (BEIS) published joint letters for accountants and auditors with information regarding auditing, accounting and corporate reporting standards during the transition period following the UK’s exit from the EU.
  • FRC/BEIS Letter: Accounting and Corporate Reporting after the end of the Transition Period (November 2020) Further, in November 2020 the UK Government and the Financial Reporting Council published letters to the accounting and audit sectors setting out the UK framework for audit and reporting at the end of the transition period.

  • Transitional provision guidance (December 2020) The FRC has issued guidance for preparers using IFRS, and their auditors. This includes proposed wording to explain the basis of accounts preparation, where an entity has a financial period which straddles the end of the transition period following the UK’s exit from the European Union. This is to ensure consistent understanding and application of requirements in the Companies Act.

  • The Accounting Direction for social housing providers is available on the gov.uk website.
  • The FRC’s work on annual and wider corporate reporting covers a range of activities including thought leadership, issuing guidance on aspects of corporate reporting and influencing and collaborating with other regulators and standard setters (find out more here). In July 2018, the FRC published Guidance on the Strategic Report. The Guidance on the Strategic Report is set in the context of the annual report as a whole to recognise that the strategic report does not exist in isolation from other aspects of corporate reporting. The Guidance includes communication principles that emphasise the qualities of good corporate reporting. It encourages companies to focus on the application of materiality to disclosures and to be innovative in the structuring of information to improve the clarity and conciseness of information. The Guidance and related information can be found here.

Chartered Accountants Ireland can accept no responsibility for the content on any site that is linked to from the Institute website. Links are provided in good faith for the potential support of members and students.