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The Financial Reporting Council (FRC) has issued Financial Reporting Exposure Draft (FRED) 75 ‘Draft amendments to FRS 104 Interim Financial Reporting - Going concern' and FRED 76 'Draft amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime - COVID-19-related rent concessions'.

Need to know IASB defers effective date for Classification of Liabilities as Current and Non-Current This Need to know discusses the amendment to IAS 1 Presentation of Financial Statements titled Classification of Liabilities as Current or Non-current—Deferral of Effective Date published by the International Accounting Standards Board (Board) in July 2020. For more information please see t...

The International Federation of Accountants (IFAC), the Zurich University of Applied Science (ZHAW), and the International Public Sector Accounting Standards Board (IPSASB) have published a tool for governments and other interested stakeholders to apply best practices in public sector accounting when analysing COVID-19-related intervention programs.

21 July 2020 The IFRS Taxonomy Consultative Group (ITCG) met on 2 June 2020 to discuss: a review of common reporting practice related to primary financial statements; a review of common reporting practice related to IAS 19 Employee Benefits; and forthcoming IFRS Taxonomy consultation documents. Read the summary of these discussions here, or visit the meeting page to read the agenda papers or liste...