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05 November 2018

FRC(英国財務報告評議会)、IFRS(国際財務報告基準)第9号・第15号に基づく企業報告に関する調査報告書を公表


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The FRC has published two thematic reviews to help companies improve the quality of their corporate reporting in relation to the new accounting standards IFRS 9 ‘Financial Instruments’ and IFRS 15 'Revenue from Contracts with Customers’.


The reports analyse the disclosures in a sample of companies’ June 2018 interim reports in relation to the adoption of the new standards and provide examples of better practice in explaining their effect.  The FRC expects other companies to use these examples to benchmark the quality of their own disclosures in their upcoming annual reports and accounts.

IFRS 15

Clear identification and explanation of performance obligations, a new concept introduced by IFRS 15, with a focus on judgements made both in their determination  and when they are considered to be satisfied; the impact of the standard on the balance sheet to also be addressed, including accounting policies for contract assets and liabilities.

IFRS 9

  • Quantification of the effect of estimation uncertainty in measuring expected credit losses and disclosure  of the sensitivity of the amounts to changes in assumptions and estimations and / or a range of reasonably possible outcomes; and
  • Evidence of consideration of the potential impact of the new standard, even where it does not have a material effect.

The FRC encourages companies to invest sufficient time during their year-end preparation to ensure that transition disclosures are comprehensive and company-specific.
 
The FRC will challenge companies who do not provide an adequate level of disclosure about the impact of the new standards through their regular accounts review process next year.

Follow-up thematic reviews planned for 2019/20

The FRC will continue to supplement its routine monitoring programme with thematic reviews of aspects of corporate reporting where there is both stakeholder interest and scope for improvement and learning from better practices.
 

Full press release



© FRC


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