IFRS 3 Business Combinations does not specify how to report transactions involving transfers of businesses between companies within the same group, leading to diversity in practice.
December 1, 2020A failure to update the frameworks would result in insurers needing to maintain dual valuation, actuarial, accounting and reporting systems, APRA says.
November 26, 2020Ratings agency puts case for integration of ESG risks into financial reporting using “common set of internationally comparable metrics”.
November 2, 2020One possible option is for the IFRS Foundation to establish a new sustainability standards board, operating alongside the IASB, focusing initially on climate-related matters.
October 2, 2020The IFRS Foundation is proposed as the body that is "optimally positioned" to lead and coordinate the creation of a new sustainability standards board.
September 14, 2020Requirements to report forbearance granted to borrowers will ensure industry statistics reflect the “true health of the banking system” and incentivise prudence in banks’ credit decisions.
August 11, 2020The FSC has also clarified its expectations on ECL estimates under IFRS 9 and reiterated its relaxation of the D-SIB surcharge requirement.
May 28, 2020South Korean regulators are advising companies and auditors to consider government relief measures as risk-reducing when determining expected credit losses.
April 13, 2020Financial institutions should be treating the LIBOR transition as an opportunity to strengthen client relationships and win market share, says Matthieu Sachot at Chappuis Halder & Co.
August 8, 2019ISDA chief Scott O’Malia says market participants need clarity from the IASB and FASB on the accounting implications of a switch from IBORs to RFRs.
June 12, 2019