PracticeAuditCharities win IASB concessions

Charities win IASB concessions

Standards board to reconsider country-by-country reporting, setting up a working party to look at the issue

The International Accounting Standards Board has taken a step towards
considering anti-poverty campaigners fighting for multinationals to report their
accounts geographically, announcing a group to consider the issues.

The move follows months of campaigning by charity coalition Publish What You
Pay, which want companies to make greater disclosure of their tax payments on a
country-by-country basis.

Accountant Richard Murphy, who helped draft the organisation’s submission to
the IASB, said the latest move by the IASB was ‘good news’.

He welcomed the IASB’s recognition that the information disclosure requested
by the coalition would be of value for investors, stakeholders and society at
large.

‘We are however worried that the IASB made no mention during the discussion
of a willingness to engage with Publish What You Pay and the NGOs that sponsor
it when considering this issue. We think this dialogue is vital because it is
clear from the discussion that not all members understood the importance or
relevance of the requests we have made,’ Murphy said.

The Board, which regulates accounting standards for about 60 countries,
agreed this week to set up a working party to engage with the issue and to
consult the UN, IMF, World Bank and their trustees.

Related Articles

PwC’s appeal against 2 year audit ban in India rejected

Audit PwC’s appeal against 2 year audit ban in India rejected

11h Alia Shoaib, Reporter
PwC found negligent by US judge over Colonial Bank's $2bn fraud

Audit PwC found negligent by US judge over Colonial Bank's $2bn fraud

3w Alia Shoaib, Reporter
Deloitte South Africa investigated over Steinhoff audits

Audit Deloitte South Africa investigated over Steinhoff audits

1m Alia Shoaib, Reporter
Top 5 audit fines of 2017

Audit Top 5 audit fines of 2017

1m Alia Shoaib, Reporter
PwC replaces EY as Domino's auditor

Audit PwC replaces EY as Domino's auditor

1m Alia Shoaib, Reporter
The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

Audit The ‘uncomfortable truth’ behind FRC’s Big Four fines recommendations

2m Carl Johnson, Stephensons
BDO holds off Big Four to retain top position as AIM auditor

Audit BDO holds off Big Four to retain top position as AIM auditor

2m Alia Shoaib, Reporter
FRC urged to fine Big Four firms penalties over £10m

Audit FRC urged to fine Big Four firms penalties over £10m

2m Alia Shoaib, Reporter