Weekly Update October 22 2020 Latest NewsCOVID-19 Resources The AASB has created a dedicated webpage that contains various internal and external resources as they pertain to COVID-19 and its effects on the financial reporting process. The AASB has noted concerns about the impact of COVID-19 crisis on the operations of entities and has been liaising with other regulators to address any financial reporting requirements concerns in a coordinated way. Upcoming Events Join us online this year for the 2020 AASB Virtual Research Forum, featuring IASB Board member Ann Tarca. Proudly supported by UNSW. We are just over one month away from our big event, and hope you will join us for what promises to be an intriguing day of presentations about some of the industry's most pressing issues. Register below now. The IASB & AASB are holding a virtual research seminar for academics across the Asia-Oceania region on 16 November 2020, from 11 am – 1 pm AEDT. The seminar will provide an overview of the IASB’s Business Combinations—Disclosures, Goodwill and Impairment Discussion Paper and give participants a chance to highlight and discuss the relevant academic literature on these topics. International NewsFinancial Accounting Standards Board (FASB)The Financial Accounting Standards Board (FASB) issued a proposed Accounting Standards Update (ASU) intended to improve three areas of the leases guidance. Stakeholders are encouraged to review and provide comments on the proposed changes by 4 December 2020. Read more.
Financial Reporting Council (UK)The Financial Reporting Council (UK) has launched a consultation on the proposed revision of its UK auditing standard ISA (UK) 240 (Updated January 2020) – The Auditor's responsibilities Relating to Fraud in an Audit of Financial Statements. Comments due 29 January 2021. Click here to read more.
International Accounting Standards Board (IASB)The IASB has made available:
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