The International Auditing and Assurance Standards Board (IAASB) has shared its 2022-2023 Public Report, Balancing Effectiveness and Timeliness in Audit and Assurance Standard Setting. This report offers a comprehensive overview of the IAASB’s progress in addressing key public interest issues and reiterates its strategic direction to continue bolstering confidence in audits and assurance engagements. Read more.

The Sanctions Monitoring Board (SMB) has published guidance on the reporting obligations and deadlines under Article 5r of Regulation 833/2014, concerning restrictive measures in view of Russia’s actions destabilising the situation in Ukraine. Under this provision, the European Union (EU) has introduced a requirement which will allow the SMB better visibility on the flow of […]

The International Public Sector Accounting Standards Board (IPSASB) has released for comment Exposure Draft (ED) 88, Arrangements Conveying Rights over Assets (Amendments to IPSAS 47 and IPSAS 48).  The proposed amendments to IPSAS 47, Revenue are consistent with the principles exposed in ED 84, Concessionary Leases and Right-of-Use Assets In-kind (Amendments to IPSAS 43 and IPSAS 23), published in January 2023. Additionally, […]

EFRAG released the second set of Explanations to respond to stakeholders’ technical questions on the European Sustainability Reporting Standards (ESRS). These responses are provided as part of EFRAG’s role as technical advisor to the European Commission and are expected to provide a practical and timely support for preparers and others in the implementation of ESRS. […]

Refence is being made to the scope of the provision under Article 11 of Council Regulation (EU) No. 833/2014, on the basis of which no claims in connection with any contract or transaction, the performance of which has been affected by the sectorial measures imposed under the aforementioned Regulation, shall be satisfied, if they are […]