Hosted by Brian O’Donovan (KPMG Global IFRS Leader), this episode addresses the current uncertain times and delivers insights from KPMG specialists on a range of topics – including climate-related risks and connectivity, valuation and impairment, implications of the new global top-up tax, disclosing material accounting policies and finally, how the new insurance contracts standard is playing out in practice. ‘ISSB™’ is a Trade Mark and ‘IFRS®’, ‘IASB®’, ‘IFRIC®’, ‘IFRS for SMEs®’, ‘IAS®’ and...

Increasingly, incentives offered to executives as part of their pay packages can include delivering on a company's ESG strategy. For example, executive bonuses based in part on progress towards a company's net-zero target. In this podcast – the latest in our series on the impact of the transition towards net zero – Rachel Tucker and Anthony Voigt take a closer look at what’s happening in this space. ‘ISSB™’ is a Trade Mark and ‘IFRS®’, ‘IASB®’, ‘IFRIC®’, ‘IFRS for SMEs®’, ‘IAS®’ and ‘SIC®’...

When a company pledges to meet net-zero targets by a certain date, it faces heightened scrutiny of the steps to be taken to meet such commitments and their potential financial reporting impacts. Stakeholder expectations are high, and if a company is to successfully communicate its progress towards net-zero goals, meaningful and connected disclosures will be crucial. In this podcast – the latest in our series on the impact of the transition towards net zero – Adrian King and Irina Ipatova take...

Companies generating carbon credits under voluntary green schemes face a number of financial reporting considerations – especially given the absence of requirements under IFRS® Accounting Standards that apply specifically to these schemes. In this podcast – the latest in our series on the impact of the transition towards net zero – Allison McManus and Irina Ipatova provide some pointers for companies seeking a framework to help them make financial reporting decisions around voluntary green...

Emissions schemes | How do voluntary green schemes work?

Companies across many different sectors have announced their net-zero carbon commitments – as part of a drive towards a greener economy. As businesses embrace new arrangements and operational changes to hit their net-zero targets, they face both challenges and opportunities. In this podcast – the first in a new series on the impact of this transition on financial reporting under IFRS Accounting Standards – Mark Wrigglesworth and Irina Ipatova look specifically at green initiatives in the...

The latest IFRS Today podcast offers clear and concise points for companies to consider when preparing their year-end financial statements.

Within the space of a few weeks, the International Sustainability Standards Board (ISSB™ Board), EFRAG and the SEC have all published proposed sustainability reporting standards.

Interconnectivity between the financial statements and the rest of the annual report on climate-related matters is a key concern for investors and regulators. Investors are challenging the lack of sufficient disclosure of climate-related information in financial statements and are seeking greater transparency and clarity.  The 2021 reporting season is an opportunity for companies to close this information gap by enhancing their disclosures of the impact of climate-related matters. In this...

This podcast covers a range of key points for consideration in reflecting the impact of COVID-19 in year-end financial statements. Hosted by Reinhard Dotzlaw (KPMG Global IFRS leader), this episode offers insights from KPMG specialists who each share their thoughts on questions to ask about going concern, impairment, rent concessions, government assistance, provisions and more.  ‘IFRS®’, ‘IASB®’, ‘IFRIC®’, ‘IFRS for SMEs®’, ‘IAS®’ and ‘SIC®’ are registered Trade Marks of the IFRS Foundation...

All companies are facing climate-related risks and opportunities – and are making strategic decisions in response. To complement the launch of our Climate change financial reporting resource centre, Reinhard Dotzlaw asks the authors of its first articles to each give an insight into how these climate-related risks and strategic decisions could impact their financial statements. ‘IFRS®’, ‘IASB®’, ‘IFRIC®’, ‘IFRS for SMEs®’, ‘IAS®’ and ‘SIC®’ are registered Trade Marks of the IFRS...

Buying or selling a business may be a step too far for you – you may simply want to partner with others. If that’s the case, figuring out what type of transaction you have entered into can be tricky. The accounting really depends on whether you are jointly controlling a business, you’re buying a share in another company or simply bringing in investors by issuing shares of one of your companies. In this podcast, Andrea Schriber and Tara Smith discuss these scenarios.  ‘IFRS®’, ‘IASB®’,...

Unlike acquiring a business, there isn’t one single IFRS standard that covers selling a business. Instead, there are several standards that you’ll need to consider along the way, from when you first start thinking about selling a business right up until the cash is in the bank. In this podcast, Peter Carlson and Julia LaPointe look at the relevant IFRS Standards and consider the steps that companies should consider in accounting for the sale of a business. ‘IFRS®’, ‘IASB®’, ‘IFRIC®’, ‘IFRS...

As the world begins to emerge from the COVID-19 pandemic, merger and acquisition (M&A) activity is on the rise. Companies should be aware of the accounting requirements before the transaction takes place so the implications can be considered as the deal is being negotiated. In this podcast, Andrea Schriber and Julia LaPointe look at the relevant IFRS Standards, including IFRS 3 Business Combinations, and address the key points that companies should consider in accounting for any...

This podcast offers clear and concise points to consider on reflecting the impact of COVID-19 in year-end financial statements. Hosted by Reinhard Dotzlaw (KPMG Global IFRS leader), this episode offers insights from KPMG specialists who each share their thoughts on the key questions to ask about going concern, impairment, rent concessions, government assistance, provisions and more.  ‘IFRS®’, ‘IASB®’, ‘IFRIC®’, ‘IFRS for SMEs®’, ‘IAS®’ and ‘SIC®’ are registered Trade Marks of the IFRS...

Many companies use benchmark interest rates – e.g. in their loan instruments, lease contracts and in hedge accounting. The replacement of some of these rates with alternative benchmark rates is expected to be mostly completed by the end of 2021. In this podcast, Colin Martin and Stewart Hagell discuss the targeted accounting relief that has been made available to ease adoption of the new benchmark rates for banks and corporates.   'IFRS' is a registered trademark of the IFRS Foundation and is...

Many companies are keen to recognise the impact of COVID-19 in P&L now, but this means finding the right balance between under- and over-providing for its impacts. In this podcast, Irina Ipatova and Ian Greenwood provide a reminder of what can and can’t be provided for. 'IFRS' is a registered trademark of the IFRS Foundation and is used by KPMG IFRG Limited under licence subject to the terms and conditions contained therein. Please contact the IFRS Foundation for details of countries...

Governments around the world have implemented a broad range of actions to help companies during the COVID-19 coronavirus pandemic. Many – but not all – of these actions can be accounted for under  IAS 20 Accounting for Government Grants. In this podcast, Brian O’Donovan and Julia La Pointe discuss the exceptions as well as the rules to using this standard in the current unprecedented environment. 'IFRS' is a registered trademark of the IFRS Foundation and is used by KPMG IFRG Limited under...

COVID-19 has completely changed the macroeconomic landscape; the level of uncertainty about the future economic outlook and the related market volatility pose significant challenges for management when making estimates.

The effective date for IFRS 17 Insurance Contracts is now 1 January 2023, following the decision to delay implementation for a year. Now that there is more certainty about the standard, this is a good time to talk about the preparation that will need to be done. In this podcast, KPMG's global insurance accounting change lead, Mary Trussell speaks with Bob Owel, a director at KPMG’s International Standards Group, on what the new effective date means for users and preparers of financial...

Most companies are likely to be impacted by the COVID-19 coronavirus pandemic, either directly or indirectly, and the increased economic uncertainty and risk may have significant financial reporting implications.

Plans to move away from the London Interbank Offered Rate (LIBOR), and other IBORs, will bring significant challenges for all companies with exposures to these rates, not just banks. In this podcast, Colin Martin, May Tiem Gillen and Sarah Kindzerske take a wider look at why the reforms have been proposed, what they are and why they are so important for all companies globally.  'IFRS' is a registered trademark of the IFRS Foundation and is used by KPMG IFRG Limited under licence subject to...

Last year saw huge price volatility in cryptocurrencies and their credibility was questioned as a result. Today, much of the hype has settled down and cryptoasset markets are showing signs of maturing. In this podcast, Brian O'Donovan, Charlotte Lo and Susanne Dixon examine some of the accounting and tax implications arising from changes in the crypto-asset landscape. 'IFRS' is a registered trademark of the IFRS Foundation and is used by KPMG IFRG Limited under licence subject to the terms...