Double Exit

Lease Accounting – IFRS 16 & Tesco

The landscape for lease accounting has taken a significant change since 1st January 2019 with IFRS 16 now replacing IAS 17 in accounting for leases.  This new standard has been over 10 years in development since the first discussion paper was released by IASB back in 2009. It represents a fundamental change to accounting for […]

Approaching the Mocks – CAP1/2

With 2019 well underway, attention is now turning to the various interim assessments (IAs) over the next couple of months. Although not all subjects at CAP1 and CAP2 have IAs, there is a growing number of assessments to deal with along with a busy period in work for most. However, it is also important that […]

IAS 36 (Impairment)- Survey of Irish Plcs

Following on from a previous post on IAASA’s publication of their observations on topical financial reporting issues in 2017, IAASA have also just recently published the results of a desktop survey focusing on how Irish Plcs apply IAS 36. This is a great practical insight into the important issue of impairment testing in companies. Given the […]

IAASA – 2017 Financial Reporting Observations

The Irish Auditing and Accounting Supervisory Authority (IAASA) has an important role in the accounting and auditing landscape in Ireland. The authority has a broad remit including being responsible for the examination and enforcement of Plc companies’ financial reporting, supervision of the regulatory functions of the professional accountancy bodies, and the inspection auditing of Public Interest Entities (‘PIEs’) (e.g. […]