A Brussels watchdog is to oversee the European accounting industry body
considering whether International Financial Reporting Standards (IFRS) comply
with European Union (EU) regulations.
A Standards Advice Review Group of national accounting standards experts has
been created by the European Commission to assess whether advice from the
European Financial Reporting Advisory Group (EFRAG) ‘is well-balanced and
objective’. EFRAG represents EU accountants, auditors and their clients.
‘As EFRAG is a private body, it is important for the high quality,
transparency and credibility of the endorsement process to establish appropriate
institutional infrastructure,’ said an EU spokesperson.
The new panel will issue opinions on any EFRAG advice within three weeks.
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