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ICAEW is broadly supportive of the draft amendments to UK GAAP standards set out in FRED 82, but raises issues that the Financial Reporting Council (FRC) should consider before finalising changes to FRS 102 and other FRSs.
Initiative follows consultation results indicating that companies tend to view climate risks as remote and long term in nature.
Reflecting that reporting today is about much more than financial information, ICAEW’s Financial Reporting Faculty is changing its name to the Corporate Reporting Faculty.
ISSB ramps up activities to support global implementation as it prepares for inaugural standards to be issued in the summer.
ICAEW welcomes the rejection of a reintroduction of amortisation of goodwill following evidence gathered in the IASB’s Business Combinations project.