Blog Article

Weekly Catch-Up 10th September

Tuesday 10 September 2019

IFRS 17 – some changes still possible

There are still some uncertainties around the amendments and stakeholders have until 25 September to respond to the June 2019 Exposure Draft, “Amendments to IFRS 17”.

“Even though it is now over two years since the ‘original’ publication of the final standard, there remains a spread of views and expectations as to which accounting approach under IFRS 17 will be used by large parts of the reinsurance industry.”

Read more

Charity Commission investigating seven charities over accounting discrepancies

The Charity Commission in the UK will be investigating seven charities mostly based in North London as a proactive exercise as a number of discrepancies have been found in their accounts. The Commission has frozen the bank accounts of size of the charities in order to protect charitable funds.

Read more

Did the Obama administration pull off the biggest accounting fraud in history?

The Wall Street Journal’s editorial board has recently suggested that the Obama administration may have been responsible for the largest accounting fraud in history with student loans when eliminating the role of private lenders in the federal student lending market.

Read more

Does the new FASB lease accounting rule just create more work for accountants?

It’s very important that there is an FASB but “sometimes if you have a large body of individuals who primary responsibility is writing guidelines, they get bored if there is nothing to do. They cannot leave well enough alone. Many new accounting standards released in recent years have been overkill. They have added significant complexity without any benefit to management, investors, lenders and regulators.”

Read more

About the Author

Related Articles

IFRIC Agenda Decisions and why they matter

Join Matt Tilling on this informative and free 90-minute virtual session running on Wednesday 9th Se...

Read More >

Demystifying IFRS 9 Financial Instruments in the COVID-19 World

IASeminars instructor Saket Modi discusses IFRS 9 Financial Instruments in the Covid-19 world

Read More >

The World Upside Down: The Impact of COVID-19 on IFRS Financial Statements

We have seen the adverse consequence of global lockdown on many industries including travel, transpo...

Read More >

Weekly Catch-Up 20th November

A ruling requiring President Trump’s lifelong accountancy firm to turn over his accounts has been t...

Read More >

IBOR Reform – Accounting Implications

Interest rate benchmarks (such as LIBOR, EURIBOR and TIBOR) play a key role in global financial mark...

Read More >

Weekly Catch-Up 13th November

A proposal by the board at the FASB has called for certain sections of the hedge accounting standard...

Read More >

Stay Updated with IASeminars

Join 20,000+ other professionals on our global mailing list.