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Need to know IASB proposes new Standard titled General Presentation and Disclosures • The new Standard, if finalised, would replace IAS 1 Presentation of Financial Statements, carrying forward many of the requirements in IAS 1 unchanged and complementing them with new requirements. • Key changes in the profit or loss statement would include: Income and expenses would have to be catego...

The Deloitte Academy January 2020 Governance in brief IIA raises the bar on internal audit Internal audit Headlines • The Institute of Internal Auditors is seeking to reinforce the role of the internal audit profession as a cornerstone of good corporate governance and to enhance its impact through the publication of this Internal Audit Code of Practice. • This builds on earlier work deve...

Standards January 2020 Amendments to IAS 1 Classification of Liabilities as Current or Non-current Classification of Liabilities as Current or Non-current Amendments to IAS 1 Classification of Liabilities as Current or Non-current is published by the IFRS Foundation (Foundation). Disclaimer: To the extent permitted by applicable law, the International Accounting Standards Board (Board...

The Deloitte Academy January 2020 Headlines • The Revised Ethical Standard 2019 will take effect for periods commencing on or after • Key changes regarding auditor independence include: Moving to of permitted services for UK incorporated EU PIEs (EU PIEs). will largely be those required by law and regulation, loan covenant reporting, other assurance services closely linked to the au...