Technical Accounting and Auditing Standards Update

Full day technical update organised by ACCA and South Coast Audit.  Presented by Charles Gubbins BSc CA.

AM: Mainly IFRS updates with some UKGAAP.
PM: Governance and audit.

Particular points of interest:

• Treatment of leases still moving.  Moving towards capitalisation of all leases but distinction between operating and finance leases will remain.
• Profit and loss account to change again and become 'Statement of Profit or Loss and other comprehensive income'.
• Sustainability: not a requirement to report this yet but need to be in a position to do so.  In particular, business mileages, gas, electricity and this information for any major subcontractors.
• UK Corporate Governance code

Certificate