IASB

Forvis Mazars partner joins IFRS interpretations panel

Forvis Mazars partner Claire Dusser was appointed to the International Financial Reporting Standards (IFRS) Interpretations Committee earlier this month. The committee, which works with the International Accounting Standards Board (IASB), aims to foster consistent application of IFRS accounting standards. It comprises 14 members from around the world with experience and…

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CFA calls for improvement of intangible assets disclosures

Accounting standard-setters should pursue a disclosure-first approach to make progress on the recognition of, and accounting for, intangible assets, The CFA Institute Research and Policy Center has suggested. According to a new report, by CFA Institute Research and Policy Center, investments in intangible assets, such as patents and brands, now…

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UKEB announces the death of board member Sandra Thompson

The UKEB has announced the death of its non-executive board member, Sandra Thompson, who had carried out her role “with enthusiasm and dedication”.  As an inaugural board member, and the first chair of the UKEB’s accounting firms and institutes advisory group, the industry body praised Thompson’s passion for accounting, as…

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Today’s news in brief – 28/2/2025

Global accounting network Crowe Global reported $5.8bn in revenues for 2024, a 10% increase from the previous year. Growth was particularly strong in Asia Pacific (16%), the Middle East (23%), and Europe (13%). The firm expanded into China, Indonesia, Martinique, and Kosovo while strengthening its core services through acquisitions. CEO…

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IASB publishes third edition of IFRS for SMEs Accounting standard

The International Accounting Standards Board (IASB) has published the third edition of the IFRS for SMEs Accounting Standard, marking the completion of its second comprehensive review of the standard. The standard defines SMEs as entities without public accountability that prepare general purpose financial statements. The revised standard also reflects key…

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Today’s news in brief – 12/8/2024

PwC UK has partnered with Cockroach Labs to address the complexities of regulatory compliance and mainframe modernization in the financial services sector. The collaboration aims to help banks and financial institutions reduce risks and costs while transitioning from legacy systems to modern cloud-based platforms. CockroachDB is highlighted as a critical…

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IFRS Foundation appoints new trustee

IFRS Foundation has appointed former general manager of the Italian Banking Association Giovanni Sabatini as trustee. IFRS’s trustees are responsible for the strategy and governance of the IFRS Foundation and oversight of its two standard-setting boards—the International Accounting Standards Board (IASB) and the International Sustainability Standards Board (ISSB). The 22…

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Understanding International Financial Reporting Standards (IFRS)

International Financial Reporting Standards (IFRS) are a set of accounting standards developed and maintained by the International Accounting Standards Board (IASB). These standards aim to bring consistency, transparency, and comparability to financial statements across the globe.  As businesses increasingly operate in a global marketplace, the adoption of IFRS has become…

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SMEs face complex corporate reporting demands, FARSIG finds

Private firms and small and medium enterprises (SMEs) and their accounting firms face four key challenges according to a new report by the British Accounting and Finance Association Financial Accounting and Reporting Special Interest Group (FARSIG).    The 2024 FARSIG symposium the Future of Finance Reporting–- held virtually with the support…

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The FRC’s periodic review of FRS 102: explained

The FRC issued a laundry list of comprehensive improvements to FRS 102 on 27 March, which is used by an estimated 3.4 million businesses.  The changes to these financial reporting standards aim to enhance the quality of financial reporting in the UK, helping support the access to capital and the…

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