The ASB has rolled out its latest consultation on how the UK’s priceless
national treasures should be treated on the books of the institutions that own
The ASB’s FRED 42 exposure draft on heritage assets calls for more disclosure
on the value of the collections, even if they are kept off the balance sheet.
Advisers said institutions such as the British Library, which owns the
Lindisfarne Gospels, and the National Gallery would have to look at their
reporting again if the proposals were pushed through.
Heritage assets have been a sticking point since 2006 because of the
difficulty of putting a value on priceless works. Without a price tag, assets
must be kept off the balance sheet, which could wipe millions off institutions’
Ken Wild of Deloitte said the issues were problematic: ‘How do you go about
putting a value on Stonehenge or Trafalgar Square?’
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