The Financial Reporting Council (FRC) has released its assessment of reporting by the UK’s major private companies, published January this year.
As the International Sustainability Standards Board (ISSB) gears up for the imminent implementation of ISSB Standards—IFRS S1 and IFRS S2— in January 2024, it has introduced a host of updated resources to assist companies in seamlessly applying the standards.
The European Banking Authority (EBA) have revamped their website, adding some useful new features in the process to help ease the journey of supervisory changes and increase understanding of regulatory frameworks.
Accountancy Europe, ecoDa, and ECIIA have jointly issued a guidance document to assist boards in integrating environmental, social, and governance (ESG) factors into their business models. It comes in response to the growing demand from stakeholders, regulators, and policymakers for enhanced sustainability performance and transparency from companies.
The UK Department for Business and Trade (DBT), in collaboration with the Financial Reporting Council (FRC), has issued a call for evidence to support the review of the UK’s non-financial reporting requirements.
The UK’s Levelling Up, Housing and Communities Committee (LUHCC) is launching an inquiry into financial reporting and audit in local authorities following calls for more understandable local authority financial statements.
The Public Finance Network, representing US state and local governments, government entities, and issuers of municipal securities, has requested that its members be involved and provide input in the implementation of the Financial Data Transparency Act (FDTA).
An article on Route Fifty this week looks at the new mandate for state and local governments in the US to prepare standardised, searchable financial statements.
Major governments worldwide have implemented – or are working to implement – new initiatives mandating sustainability and climate-change related reporting. The aim is to better understand the financial risk faced by climate change, and, in some jurisdictions, to also understand the wider impact entities have on environmental social interests.
How will the Financial Data Transparency Act (FDTA) reshape municipal financial reporting in the US? The FDTA will require electronic reporting and machine-readable tagging (likely in XBRL) of state and local government financial data, boosting the ability of users — especially lenders — to undertake analysis and comparison.
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