A prominent standard setter advisory group has notified the G20 summit that a
no-holds-barred study into global financial reporting is being fine-tuned.
The Financial Crisis Advisory Group which sent the letter to Downing St last
night was established by the IASB and its US counterpart FASB to advise the two
boards about standard-setting implications of the global financial crisis and
potential changes to the global regulatory environment.
The study which is due in July, will focus on how improvements to financial
reporting may enhance investor confidence, in the wake of the capital markets
FCAG said it would provide input and advice on significant accounting issues
that require the boards’ immediate attention ‘including , “fair value (including
mark-to-market)” accounting, loan provisioning, and structured entities and
other off-balance sheet vehicles.’
Improvements to cashflow statements are being targeted in a consultation launched by the Financial Reporting Council (FRC)
Dr Richard Willis provides a several thousand-year history lesson of the profession, from origin to modern-day
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Long-serving PwC director Fiona Westwood has moved to Smith & Williamson and stepped up to partner