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28 November 2017

Accounting for Cryptocurrency

What is cryptocurrency? Before we get out our big sexy accounting books, a quick refresher on crytocurrencies. A cryptocurrency is a medium of exchange such as the US dollar. There are currently many different types of cryptocurrency in existence. The most popular, Bitcoin, was the first cryptocurrency to appear in...

13 November 2017

Meet the Experts – tackling tremendous financial reporting change

I’m very much looking forward to welcoming all those attending Meet the Experts next week. I’m finalising my introductory slides as I type so time is getting short! We’ve got plenty of content this year, with sessions hosted by investors, preparers, regulators and cyber security experts – so there’s truly...

05 September 2017

IFRS 9 hedge accounting – should I stay or should I go now?

IFRS 9, the new financial instruments standard, is well recognised as having a big impact on banks. But what about corporates? There seems to be a perception that, with a few exceptions, IFRS 9 will have little or no impact. I have heard rumours that a few corporates are thinking...

27 July 2017

The hot summer days of IFRS 17, Insurance Contracts

Half a year has gone since my last ‘temperature check’ on IFRS 17, The Five Stages of Grief Accepting IFRS 17. What has changed since then? Everything! The climate around me is changing every day and I want to share with you what I see. Are people still in grief...

21 July 2017

The only constant is change

By Henry Daubeney As of 1 July 2017 I have taken over as PwC’s Global Chief Accountant and Head of Reporting. I spent the months leading up to this transition shifting my focus from being an assurance engagement leader to being the leader of a global network of IFRS specialists....

01 June 2017

All standards are not actually broken

By Mary Dolson All standards are not actually broken, Not everything needs a review; Acceptance hard won, discontent is woken Can we just leave some be, take a view? Two different due process events at the IASB have forced me to resort to poetry. Should all post implementation reviews mean...

27 April 2017

What is IFRS 17 and why should insurers sit up, take notice and act now?

By Alex Bertolotti Blog snapshot IFRS 17 can impact insurers as much as, if not more than, Solvency II Profit recognition for both life and general insurers set to change under the new standard Don’t leave it too late to start your impact assessment – now is the time! Register...

03 April 2017

What will 2018 be remembered for?

Russia hosting the word cup? A century since the end of World War I? When IFRS 9, the new financial instruments standard, has to be applied? With 2018 approaching fast, IFRS 9 is rising to the top of the agenda for more companies. Here are my top nine on IFRS...

24 March 2017

Who is an April fool then?

I’m a little bit vulnerable to the odd April fool. My Dad tells the story of our response to his shout of, “Lads, come quick, the porridge has gone green!”. My brother and I ran downstairs in 10 seconds flat (I just beat him) to be greeted by non-verdant porridge...

01 March 2017

Do investors care about IFRS 9?

IFRS 9, in particular the expected credit loss (ECL) model, is the standard setter’s response to the financial crisis. Banks’ lending too much money to people who could not repay was one of the factors that fuelled the global financial crisis. Accounting, in particular the incurred loss model, was criticised...