All articles by Stephen Bouvier – Page 8
-
NewsAccounting standards come under fire from UK lawmakers
Since the UK’s departure from EU structures on 31 December 2020, new IFRSs have been adopted through means of a temporary endorsement mechanism
-
Features
Reporting: Yours sustainably…
You know how one thing can lead to another? Well, that is what happened with the International Financial Reporting Standards Foundation’s steps into sustainability reporting.
-
News
DB attribution project prompts warning from IFRS IC chair
The IFRS IC voted to confirm its tentative agenda decision concerning the attribution of periods of service under IAS 19
-
NewsCorporate governance advisor PIRC pushes for shareholder hard line on audit
PIRC is recommending that shareholders oppose the appointment of EY, PWC, KPMG and Grant Thornton during this year’s round of shareholder meetings
-
NewsAccounting roundup: Full-scale IAS 19 review option; new IOSCO group
Comprehensive review of IAS 19 included as option in IFRS Foundation consultation
-
FeaturesDB accounting: Lump-sum benefits
Service-defined lump-sum payments are causing accounting attribution problems
-
NewsIFRS Foundation urged to address materiality in sustainability reporting
IFRSs focus on financial materiality and treat information as material if leaving out of an entity’s financial statements would influence investors’ decisions
-
NewsUK unveils plans to reform audit, corporate governance landscape [updated]
Government proposals include steps to replace the FRC with a new regulator
-
Special ReportUK accounting: The Brexit slower ball
Full departure from EU rules means the UK must set up its own accounting standards
-
News
IASB to seek views on future workplan; FRC sets out budget, priorities
The FRC said its projected spend for the coming year amounts to £52.2m (€60.7m). DB schemes are expected to contribute £1.2m under the pension scheme levy
-
NewsPIRC tackles IAASB over audit expectation gap
‘Auditors have substantial obligations in relation to detecting fraud in an audit, regardless of the expectation gap’
-
Features
Accounting Matters: Auditing the auditors
There is widespread consensus that the audit sector is not fulfilling its potential, and that previous attempts at reform have been ineffective. As the impact of high quality audit goes far beyond the boardroom, when pension funds rely on audited financial statements for their capital allocation decisions, it is ultimately their individual members’ capital that is at risk.
-
Special ReportAccounting Matters - IAS 19: the negative view
Negative interest rates are probably the most daring policy move most of us will ever see. The idea that a borrower is paid to take out a loan, but a saver is penalised for setting aside money for their retirement turns our understanding of the fundamentals of finance on its head. But Europe has had them for more than a decade. And if the experience of today’s financial crisis is anything to go by, it will do so for a while longer yet. So where does this leave defined benefit (DB) sponsors and their accountants?
-
NewsIFRS committee to forego project on DB periods of service attribution
Interpretations Committee rules requirements of IAS 19, Employee Benefits are clear
-
FeaturesAccounting Matters: Accounting for the Wedge
The reason why defined benefit (DB) scheme sponsors account for inflation is because International Accounting Standard 19, Employee Benefits, tells them that if they make a benefit promise that is linked to price increases, the effect of that commitment has to be accounted for. The starting point for what by any standards is a gargantuan actuarial task is to look at yields on inflation-linked bonds.
-
NewsClientEarth calls for climate change reporting improvement
The FRC’s supervisory priorities for the coming year include reporting on the impact of climate change, the COVID-19 pandemic and Brexit
-
News
FRC updates UK Parliament on progress on governance, audit reforms
Inquiries into the future of audit come after a tough time for the audit and accounting profession, following a number of high-profile corporate failures in the UK
-
News
IASB urged to add projects on pensions accounting, sustainability reporting
The board is also conducting research into pension benefits that depend on asset return
-
FeaturesAccounting Matters: Who sets the standards?
You are what you know, the saying goes. And it goes without saying that the 211 comment letters the International Accounting Standards Board (IASB) received on its Primary Financial Statements (PFS) project will represent some diverse viewpoints.
-
FeaturesAccounting Matters - UK DB pension schemes: One step forward, two steps back
As sometimes happens with Easter, one of the surveys of the UK pensions accounting landscape from consultants Lane Clark & Peacock (LCP) was later than usual. And, like an Easter egg, this keenly awaited overview of the net funding position of FTSE 100 defined benefit (DB) pension schemes comes in two halves.
