All articles by Stephen Bouvier – Page 8
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Special Report
Risk transfer: The accounting perspective
The effect on liabilities from an accounting point of view is an important factor when considering a buy-in or buyout
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News
Accounting round-up: FRC ups enforcement, focuses on DB accounting
Plus: IASB disclosure requirements project; FRC’s feedback statement on non-financial reporting
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News
FRC fines KPMG £13m, sanctions restructuring unit partner [updated]
KPMG and Costley-Wood’s actions allowed HIG Group to snap up Silentnight out of insolvency while £100m of pension liabilities were transferred to the PPF
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Features
Accounting: The Friedman conundrum
The world, or rather capitalism, has come a long way since Milton Friedman’s 1970 New York Times opinion piece The Social Responsibility of Business is to Increase Its Profits. Corporations, he argued, have no responsibility beyond the duty they hold to shareholders.
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News
SASB, IIRC merge to form Value Reporting Foundation
One of the priorities for the merged entity will be to support the work of bodies such as the IFRS Foundation
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Features
Accounting: Getting there eventually
You could be forgiven for thinking that audit reform has a lot in common with online shopping: knowing what you want is the easy part – it is fulfilment that is the let-down.
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News
UK DB schemes end turbulent year in strong position, LCP says
LCP’s report found that UK DB schemes ended the year with an aggregate balance sheet surplus of £10bn
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News
IOSCO registers ‘strong support’ for sustainability reporting initiative
The IFRS Foundation has set up a working group to prepare the ground for the establishment of an SSB
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News
Accounting 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
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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.
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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
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News
Corporate 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
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News
Accounting roundup: Full-scale IAS 19 review option; new IOSCO group
Comprehensive review of IAS 19 included as option in IFRS Foundation consultation
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Features
DB accounting: Lump-sum benefits
Service-defined lump-sum payments are causing accounting attribution problems
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News
IFRS 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
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News
UK unveils plans to reform audit, corporate governance landscape [updated]
Government proposals include steps to replace the FRC with a new regulator
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Special Report
UK accounting: The Brexit slower ball
Full departure from EU rules means the UK must set up its own accounting standards
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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
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News
PIRC tackles IAASB over audit expectation gap
‘Auditors have substantial obligations in relation to detecting fraud in an audit, regardless of the expectation gap’
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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.