Restoring trust in audit, corporate governance and reporting – Draft legislation withdrawn

The Government has withdrawn draft legislation, which was published in July 2023, that set out additional corporate reporting requirements as a result of the original consultation published back in March 2021 Restoring trust in audit and corporate governance on strengthening the UK’s...

BEIS White Paper – Government’s response to the consultation: Restoring trust in audit and corporate governance – Update on the original proposals and what this means for corporate reporting? (part 2)

The Government has published its response Restoring trust in audit and corporate governance to the original consultation published back in March 2021 Restoring trust in audit and corporate governance on strengthening the UK’s audit, corporate reporting and corporate governance systems....

Hot Topic publication: Key Highlights Checklist from the FRC’s Annual Review of Corporate Reporting 2020/21

This publication looks at the top ten areas of improvement highlighted by the Financial Reporting Council (FRC) in its Annual Review of Corporate Reporting for 2020/21, setting out a checklist of what companies should be providing, and avoiding, in their...

Understanding the accounting for configuration or customisation costs in Software as a Service (SaaS) cloud-based arrangements

In April 2021, the IFRS Interpretations Committee (Committee) issued an agenda decision regarding how to account for configuration or customisation costs associated with software purchased from a supplier in a Software as a Service (SaaS) arrangement (i.e. a cloud-based computing...

Primary Financial Statements project – Redeliberations continue (part 1)

At the May 2021 International Accounting Standards Board’s (IASB) meeting, the Board members continued their redeliberations on the proposals set out in the exposure draft: General Presentation and Disclosures (ED), which was published in December 2019 (and was open for...

FRS 102 Section 20 Leases – Amendments to extend the relief period for accounting for Covid-19-related rent concessions

The Financial Reporting Council (FRC) has published Amendments to FRS 102 and FRS 105 – COVID-19-related rent concessions beyond 30 June 2021 that extends the application period, by one year, of the requirements that deal with the accounting for Covid-19-related temporary rent concessions under...

Primary Financial Statements project – Redeliberations begin by the IASB on the exposure draft: General Presentation and Disclosures that propose substantial changes to reporting financial performance

At the March 2021 International Accounting Standards Board’s (“IASB”) meeting, the Board members began the anticipated task of redeliberating the proposals set out in the exposure draft: General Presentation and Disclosures (“ED”), which was published in December 2019 (and was...

Hot Topic publication: Reporting on the impact of Covid-19 – Key disclosure expectations for 2020/21

This publication looks at the key disclosure expectations, in relation to the impact of Covid-19, that companies should focus on when preparing their forthcoming annual reports. Please use the following link to view the Hot Topic publication: https://blogs.mazars.com/mindthegaap/files/2020/11/Hot-Topic_Impact-of-Covid-19_Key-Disclosure-Expectations.pdf