NEW INTERNATIONAL valuation standards have been published by the IVS Council, covering assets including financial instruments, business interests and intangible assets.
The IVS are closely related to the International Accounting Standards Board’s recently published IFRS 13 fair value measurement, although standards setters agree that valuation and accounting are distinct disciplines, making independent rules necessary.
Financial instruments are one focus of the new standards, examining some of the characteristics that influence value, the merits of different valuation approaches and the transparency of work in this sector.
Like the IFRS, IVSs go through due process, inviting feedback from international stakeholders; a similar programme of adoption or convergence is being pursued for the valuation standards.
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