The chairman of the international accounting standards board told the Financial Times: ‘Now we’re coming to the big ones, and all of them will have controversy – there will be blood all over the streets.’
He highlighted as a likely flashpoint a new standard that would put leased items on the balance sheet, which he said would prompt companies with large assets to ‘erupt’.
Sir David hazarded a prediction that a temporary agreement on fair value accounting on liabilities under IAS39 might be in place by the end of March next year.
However, he was less forthcoming on the timetable for a resolution of the disagreement over hedge accounting for derivatives.
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
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.