IFRS news archive

IFRS news archive

Need-to-know information on international standards in the accounting and regulatory space.

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2017

Banks – Auditing IFRS 9’s ECL requirements
Global accounting networks issue guidance for audit committees
31 July 2017 | Banking

 

New standards – Coordinating group and local numbers
Are central and local finance teams on the same page?
27 July 2017 | IFRS blog

 

Financial instruments – Final prepayment amendments 
The Board completed its technical re-deliberations on the exposure draft Prepayment Features with Negative Compensation.
26 July 2017 | Financial instruments

 

New insurance contracts standard – Introducing IFRS 17  
Insight and analysis on the impact of IFRS 17 Insurance Contracts
18 July 2017 | Insurance

 

Banks – Are you good to go?
Key considerations that banks need to focus on when implementing IFRS 15.
13 July 2017 | Revenue

 

Insurance – Are you good to go?
Key considerations that insurance companies need to focus on when implementing IFRS 15.
13 July 2017 | Revenue

 

The Bank Statement – Q2 2017
Credit loss accounting for dual reporters
12 July 2017 | Banking

 

Investment management – Are you good to go?
Key considerations that investment management companies need to focus on when implementing IFRS 15.
4 July 2017 | Revenue

 

New standards – Good and bad news on IT implementation
Critical time challenge to get your systems ready 
29 June 2017 | IFRS blog

 

Financial instruments – IFRS 9 prepayment amendments 
The Board discussed feedback received in comment letters on the exposure draft Prepayment features with Negative Compensation.
29 June 2017 | Financial instruments 

 

Accounting for sale proceeds before an asset’s intended use
Proposed narrow-scope amendments to IAS 16
23 June 2017

 

Airlines – Are you good to go?
Key considerations that airline companies need to focus on when implementing IFRS 15.
15 June 2017 | Revenue

 

Media – Are you good to go?
Key considerations that media companies need to focus on when implementing IFRS 15.
8 June 2017 | Revenue

 

Income tax exposure 
IFRIC 23 clarifies the accounting treatment
8 June 2017 | IFRS toolkit

 

Food, drink and consumer goods companies – Are you good to go?
Key considerations that food, drink and consumer goods companies need to focus on when implementing IFRS 15.
1 June 2017 | Revenue

 

New standards – Taking investors by the hand 
What disclosures will you have to make in this year’s interim and annual reports?
31 May 2017 | Disclosures

 

Measuring fair value – Share your experience of IFRS 13
The IASB has issued a request for information seeking feedback in several areas of focus
30 May 2017 | IFRS toolkit

 

Technology – Are you good to go?
Practical guidance for software and technology companies on implementing the new revenue recognition standard.
25 May 2017 | Revenue

 

Financial instruments – Next steps on the DRM project
Discussions on DRM activities continue
24 May 2017 | Financial instruments 

 

Prepayment features with negative compensation
Proposed narrow-scope amendment to IFRS 9 for particular financial assets
24 May 2017 | Financial instruments

 

New insurance contracts standard – Introducing IFRS 17 
Insight and analysis on the impact of IFRS 17 Insurance Contracts
18 May 2017 | Insurance

 

Pharmaceuticals – Are you good to go?
Our latest publication looks at the key considerations pharma and life sciences companies need to focus on when implementing IFRS 15.
16 May 2017 | Revenue

 

Retail – Are you good to go?
Our latest publication looks at the key considerations retailers and wholesalers need to focus on when implementing IFRS 15.
4 May 2017 | Revenue 

 

IFRS 15 – Earnings surprises in store for investors? 
Investors need to assess how the new revenue recognition standard will affect earnings 
28 April 2017 | IFRS blog

 

IFRS 16 Leases definition 
Under the new leasing standard, IFRS 16, lease definition becomes the key on-/off-balance sheet test.
27 April 2017 | Leases

 

Aerospace and defence – Are you good to go?
Key considerations that aerospace and defence companies need to focus on when implementing IFRS 15.
27 April 2017 | Revenue

 

Construction – Are you good to go?
Implementing IFRS 15 – Key considerations that companies in the construction sector need to focus on.
13 April 2017 | Revenue

 

The Bank Statement – Q1 2017
Stage transfer criteria for impairment
13 April 2017 | Banking

 

Real estate developers – Are you good to go?
What are the key considerations that real estate developers need to focus on when implementing IFRS 15?
7 April 2017 | Revenue

 

Combined and/or carve-out financial statements
This guide highlights practice where IFRS is applied consistently globally.
7 April 2017 | IFRS Toolkit

 

Disclosure checklist - Guide to condensed interim financial statements
31 March 2017 | IFRS financial statements

 

Illustrative disclosures - Guide to condensed interim financial statements
31 March 2017 | IFRS financial statements

 

New standards – Setting the tone at the top
10 questions for audit committees – to focus discussions with management of corporates on implementation of the new standards 
31 March 2017 | IFRS Blog

 

Operating segments – Responding to the PIR of IFRS 8
Proposed amendments seek to improve IFRS 8 after Post-implementation Review
31 March 2017 | Business combinations

 

Financial instruments – DP on FICE expected this year
Technical deliberations largely completed on the FICE project
30 March 2017 | Financial instruments 

 

Transport companies – Implementing IFRS 15
We look at how IFRS 15 Revenue from Contracts with Customers will affect companies in the transport sector, and how KPMG can help.
13 March 2017 | Revenue

 

Consumer goods – Implementing IFRS 15
Now that the IASB and FASB have published a new joint standard on revenue recognition, the real work for food, drink and consumer goods companies is just beginning.
13 March 2017 | Revenue

 

Housebuilders – Implementing IFRS 15
We look at how IFRS 15 Revenue from Contracts with Customers will affect companies in the housebuilding sector, and how KPMG can help.
9 March 2017 | Revenue

 

Financial instruments – FICE discussions continue
The IASB has continued its discussions on financial instruments with
characteristics of equity.
2 March 2017 | Financial Instruments

 

IFRS 9 impairment – Revolving credit facilities
The IASB has discussed an issue relating to how the period of exposure is
determined for revolving credit facilities, such as credit cards.
1 March 2017 | Financial Instruments

 

Insurance – Making the finishing touches
In February, the IASB addressed issues arising from the feedback it received from the external testing and drafting process of the forthcoming insurance contracts.
1 March 2017 | Insurance 

 

IFRS 15 Revenue – The reality may surprise you
10 reasons why CFOs should be worried.
27 February 2017 | Revenue

 

Guide to annual financial statements: Illustrative disclosures for banks (IAS 39)
17 February 2017 | IFRS Financial statements

 

IFRS: New standards – Are you ready?
Our summaries of newly effective and forthcoming accounting standards are linked to our insight and guidance, and highlight both their effective date as per the IASB as well as the EU effective date.
7 Febrauary 2017 | IFRS toolkit

 

Insurance contract – No time to watch and wait
12 questions to kickstart your successful transition.
31 January 2017 | Insurance 

 

Power & utilities – Implementing IFRS 15
Now that the IASB and FASB have published a new joint standard on revenue recognition, the real work for power and utilities companies is just beginning.
25 January 2017 | Revenue 

 

Financial Instruments – Symmetric prepayment options 
The IASB has started work on a narrow-scope project on 'make-whole' prepayment options.
25 January 2017  |  Financial Instruments

 

Insurance - final standard expected in May 2017
IASB expects sweep issues from the IFRS 17 fatal flaw review to be discussed in February.
19 January 2017 | Insurance 

 

Proposed annual improvements to IFRS
Amendments proposed to IAS 12, IAS 23, IAS 28 and IFRS 9
16 January 2017 | Business combinations

 

The Bank Statement – Q4 2016 
KVA – Adjustments for regulatory capital costs.
10 January 2017 | Banking

 

Regulators call for action on new accounting standards 
IOSCO stresses importance of implementation and disclosure on IFRSs 9, 15 and 16.
6 January 2017 | Disclosures

 

2016

Financial Instruments – Derivatives on own equity 
Further progress has been made in exploring classification under the Gamma approach.
16 December 2016 | Financial Instruments

 

Guide to annual financial statements: Illustrative disclosures for investment funds
15 December 2016 | IFRS Financial statements

 

IFRS compared to US GAAP
We look at the main differences of principle, emphasis or application between IFRS and US GAAP.
14 December 2016 | IFRS toolkit

 

Transfers to and from investment property
The IASB has amended IAS 40 on transfers of property assets to, or from, investment property.
14 December 2016   

 

Foreign currency transactions – Advance consideration 
IFRIC 22 clarifies the transaction date used to determine the exchange rate.
09 December 2016  

 

Annual Improvements to IFRS 
Final amendments issued to IFRS 12, IAS 28 and IFRS 1.
8 December 2016 | Business combinations

 

Integrated Reporting – Closing the reporting gap 
Final amendments issued to IFRS 12, IAS 28 and IFRS 1.
1 December 2016 

 

Insurance - Setting the stage for a final standard 
This month, the IASB discussed its findings from the external testing of a draft of the forthcoming insurance contracts standard (IFRS 17), and addressed some of the issues raised.

23 November 2016 | Insurance

 

Financial Instruments – The puttables exception
Further progress has been made in exploring classification under the Gamma approach.
22 November 2016 | Financial Instruments

 

Banks – Rising to the challenges of IFRS 9
10 focus questions for management and audit committees.
16 November 2016 | Financial Instruments 

 

IFRS – What's next on the agenda?
IASB publishes five-year work plan following stakeholder consultation.
11 November 2016 | The future of IFRS

 

New standards – Taking investors by the hand 
In just over a year, the new financial instruments and revenue standards – IFRS 9 and IFRS 15 – will become effective.
10 November 2016 | Disclosures

 

IFRS 16 – Transition to the new leases standard
What’s the best option for your business on transition to IFRS 16?
7 November 2016 | Leases

 

ESMA enforcement priorities for 2016
European regulator highlights priorities for 2016 IFRS financial statements
2 November 2016 | Disclosures

 

Investment managers – Implementing IFRS 15
Investment managers should not underestimate the potential impact of the new revenue standard that's effective from 1 January 2018.
31 October 2016 | Revenue

 

Financial Instruments – Alternative settlement outcomes
Further progress has been made in exploring the classification of claims with alternative settlement outcomes.
25 October 2016 | Financial Instruments

 

Annual disclosure checklists – 2016 edition
18 October 2016 | IFRS Financial statements

 

Annual illustrative disclosures – 2016 edition
18 October 2016 | IFRS Financial statements

 

The Bank Statement – Q3 2016
Comparing IFRS 9 and US GAAP impairment
11 October 2016 | Banking

 

Leases – 10 key questions to help you prepare for IFRS 16
What do you need to think about when planning to implement the new standard?
7 October 2016 | IFRS blog

 

Oil and Gas - Implementing IFRS 15
The new revenue standard – effective from 1 January 2018 – is having an impact  across the oil and gas sector.
30 September 2016 | Revenue

 

Banks – Are you prepared for IFRS 9?
The new financial instruments standard – effective from 1 January 2018 – is proving to be a momentous accounting change for banks.
29 September 2016 | Banking

 

Financial Instruments – Moving the FICE project forward
Further progress has been made in exploring presentation and disclosure requirements.
28 September 2016 | Financial Instruments

 

Insurance – IFRS 4 amendments 
Amendments respond to industry concerns about the impact of differing effective dates. 
23 September 2016 | Insurance

 

Telcos – Implementing IFRS 15
IFRS 15 is having a profound effect across the telecommunications sector.
7 September 2016 | Revenue

 

New insurance contracts standard – It’s time to engage
Insurers may experience greater volatility in profit or loss and equity on applying the new standard.
29 July 2016 | Insurance

 

Brexit – Financial reporting implications
Our briefing document addresses the initial accounting and reporting impacts.
29 July 2016  

 

Revenue – Regulator calls for transparency on impacts on IFRS 15 
ESMA promotes consistent application of new revenue standard.
28 July 2016 | Revenue

 

Financial Instruments – the FICE project continues
Further progress has been made in exploring the classification of derivatives on own equity.
26 July 2016 | Financial Instruments

 

The Bank Statement – Q2 2016
Impact of IFRS 16 and more on the leverage ratio
12 July 2016 | Banking

 

Clarifying business combinations accounting
New definition of a business aims to be narrower and to facilitate more robust decision making
4 July 2016 | Business Combinations

 

IFRS – Better communication
IASB chairman makes better communication a priority for the coming years
1 July 2016 | The future of IFRS

 

IFRS 15 – Transition to the new revenue standard
What’s the best option for your business on transition to IFRS 15?
30 June 2016 | Revenue

 

Insurance – Fine-tuning the forthcoming standard
The IASB has turned its attention to sweep issues that have arisen during the balloting process for the forthcoming insurance contracts standard.
29 June 2016 | Insurance

 

Clarifying share-based payment accounting
Amendments to IFRS 2 clarify the accounting for certain types of arrangements.
21 June 2016 | Employee benefits

 

Non-GAAP measures – Moving towards global transparency
IOSCO promotes transparency and comparability in its new statement
17 June 2016 | Disclosures

 

Banks – Implementing IFRS 9’s impairment requirements
Global accounting networks issue guidance to help audit committees oversee implementation.
17 June 2016 | Banking

 

Insurance – Implementing IFRS 15
Insurers should not underestimate the potential impact of the new revenue standard that's effective from 1 January 2018.
9 June 2016 | Insurance

 

Financial instruments for corporates
The new financial instruments standard will affect corporates.
1 June 2016 | Financial Instruments

 

Viewpoint Podcast: ‘Level of aggregation’ under IFRS 4 Phase 2 for insurers
Find out more about one of the key drivers of profit recognition in the new model.
24 May 2016 | Insurance

 

Insurance – IFRS 4 amendments set for balloting
The IASB has finished its discussions on the differing effective dates of IFRS 9 and the forthcoming insurance contracts standard.
24 May 2016 | Insurance

 

Financial Instruments – Characteristics of equity 
Further progress has been made in exploring ways to present useful information not captured by a binary classification approach.
23 May 2016 | Financial Instruments

 

Revenue –  Issues in-depth (Second edition)
Our in-depth guide to the new IFRS and US GAAP revenue standards.
17 May 2016 | Revenue

 

The Bank Statement – Q1 2016
Measuring ECL and clearing OTC derivatives
29 April 2016 | Banking

 

Financial Instruments – Characteristics of equity
Further progress has been made in exploring the implications of attributing profit or loss and OCI to derivative equity claims.
28 April 2016 | Financial Instruments

 

Insurance – Revised criteria for deferring IFRS 9
The IASB is to broaden the qualifying criteria for deferring IFRS 9 and introduce additional relevant disclosures.
27 April 2016 | Insurance

 

Accounting for revenue is changing
What’s the impact on your business?
26 April 2016 | Revenue

 

First Impressions: IFRS 15 Revenue-It’s time to engage
Our digestible introduction to the clarified version of IFRS 15.
14 April 2016 | Revenue

 

Condensed interim disclosure checklist – 2016 edition
31 March 2016 | IFRS financial statements

 

Condensed interim illustrative disclosures – 2016 edition
31 March 2016 | IFRS financial statements

 

Guide to annual financial statements: IFRS 9 – Illustrative disclosures for banks
15 March 2016 | Banking

 

Financial Instruments – Characteristics of equity
Looking at ways to improve IAS 32.
24 February 2016 | Financial Instruments

 

Insurance – New standard set for balloting
At its February meetings, the IASB instructed the staff to begin the balloting process for the forthcoming insurance contracts standard.
18 February 2016 | Insurance

 

Disclosure on changes in financing liabilities
Amendments to IAS 7 require additional disclosures.
12 February 2016 | Disclosures

 

The Bank Statement – Q4 2015
IFRS 9 implementation and Pillar 3
1 February 2016 | Banking

 

Deferred tax assets on unrealised losses
IASB clarifies deferred tax treatment for debt instruments under IAS 12.
29 January 2016 | Income taxes 

 

Insurance –  Planned technical redeliberations now complete
The IASB considered the level of aggregation for onerous contracts and allocation of CSM and continued its discussion regarding discretionary cash flows.
27 January 2016 | Insurance

 

Slideshare: IFRS 16 Leases – A more transparent balance sheet
This SlideShare presentation gives a high-level visual summary of the key messages and the business impacts of the new leases standard.
13 January 2016 | Leases

 

New lease accounting standard brings added transparency to the balance sheet
Press release on the new lease accounting standard IFRS 16.
13 January 2016 | Leases

 

First Impressions: IFRS 16 Leases – A more transparent balance sheet
A detailed overview of the new leasing standard and its effect on financial statements.
12 January 2016 | Leases

2015

Banks – Accounting for expected credit losses 

Basel Committee issues guidance on credit risk and accounting for expected credit losses.
22 December 2015 | Banking

 

Fair Value Measurement – US GAAP and IFRS
Guidance in the two frameworks is substantially converged, but some differences remain.
17 December 2015 | IFRS toolkit

 

IFRS 9 Impairment – ITG clarifies implementation issues
The new expected credit loss model for the impairment of financial instruments has triggered a variety of implementation issues.
16 December 2015 | Financial instruments

 

Banks – EDTF guidance on new credit risk disclosures
Principles on bank disclosures updated to reflect accounting for expected credit losses
9 December 2015 | Banking

 

Opening the black box: Demystifying IFRS 4 Phase 2 
Through illustrative examples using one of the components of a complete set of IFRS financial statements.
8 December 2015 | Insurance

 

Disclosures – Applying materiality
Proposals aim to help management apply materiality concept to IFRS financial statements.
11 November 2015 | Disclosures

 

Disclosures – Regulator says quality, not quantity, is key 
ESMA states key principles for improving disclosures in financial statements. 
10 November 2015 | Disclosures

 

Annual disclosure checklists – 2015 edition
11 September 2015 | IFRS Financial statements

 

Annual illustrative disclosures – 2015 edition
11 September 2015 | IFRS Financial statements

 

Annual illustrative disclosures – IFRS 15 supplement
11 September 2015 | IFRS Financial statements

 

IFRS 15 – 2018 effective date confirmed
IASB confirms a one-year deferral of the effective date of its new revenue standard.
27 July 2015 | Revenue

 

Performance reporting – Conceptual Framework
Would the IASB’s proposals resolve the long-standing issue of performance reporting? 
29 June 2015 | The future of IFRS

 

Business combinations – Is IFRS 3 working as intended?
The IASB has reviewed feedback on the effectiveness of business combination accounting. 
19 June 2015 | Business Combinations

 

The future direction of IFRS
What should be the core principles for setting accounting standards under IFRS?  
28 May 2015 | The future of IFRS

 

Condensed interim disclosure checklist – 2015 edition

31 March 2015 | IFRS financial statements

 

Condensed interim illustrative disclosures – 2015 edition
31 March 2015 | IFRS financial statements

 

Making financial statements more relevant
Clarifications to IAS 1 aim to improve financial statement disclosures. 
15 January 2015 | Disclosures

 

Investment entities – Consolidation accounting
Intermediate investment entities are the focus of these narrow-scope IFRS amendments.
8 January 2015 | Business Combinations

2014

Guide to annual financial statements: IAS 39 – Illustrative disclosures for banks 
18 December 2014 | IFRS financial statements

 

Earnings per share – IFRS Handbook
Your step-by-step guide to EPS calculations and application issues under IFRS.
15 October 2014 | IFRS toolkit

 

Construction – Implementing IFRS 15
With the arrival of the new revenue standard – IFRS 15 Revenue from Contracts with Customers – the construction industry has effectively lost its contract accounting ‘rule book’.
30 September 2014 | Revenue

 

Transfer of assets in transaction with associate or JV
Amendments to IFRS 10 and IAS 28 address long-standing accounting conflict for investors. 
15 September 2014 | Business Combinations

 

Financial instruments – Introducing IFRS 9
IFRS 9 (2014) introduces new requirements on classification, measurement and impairment.
11 September 2014 | Financial Instruments

 

First Impressions: IFRS 9 Financial Instruments
This First Impressions provides our detailed analysis on the complete version of IFRS 9 Financial instruments, issued in July 2014.
11 September 2014 | Financial Instruments

 

Annual disclosure checklists – 2014 edition
11 September 2014 | IFRS Financial statements 

 

Annual illustrative disclosures – 2014 edition
11 September 2014 | IFRS Financial statements

 

Annual illustrative disclosures – IFRS 12 supplement
11 September 2014 | IFRS Financial statements

 

Separate financial statements – Equity method
Amendments to IAS 27 allow use of equity method for separate financial statements.
13 August 2014 | Financial Instruments

 

Insurance – Implementing IFRS 9
The new financial instruments standard is part of a sea-change in reporting for insurers.
28 July 2014 | Financial Instruments

 

In the Headlines: Financial instruments – the complete standard
Fundamental changes call for careful planning.  
25 July 2014 | Financial Instruments 

 

Accounting for dynamic risk management activities
A new approach to macro hedge accounting aims to better reflect risk management in IFRS.  
22 July 2014 | Financial Instruments 

 

Business combinations – Interests in a joint operation
Amendments to IFRS 11 will result in more consistent business combination accounting.
7 May 2014 | Business Combinations

 

Goodwill impairment – Who cares?
KPMG report highlights stakeholder support for rethinking treatment of goodwill under IFRS.
2 April 2014 | Business Combinations

 

Condensed interim disclosure checklist – 2014 edition
1 April 2014 | IFRS financial statements

 

Condensed interim illustrative disclosures – 2014 edition
1 April 2014 | IFRS financial statements

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