[Global Financial Insights] IASB Publishes April 2025 Update Alongside IFRIC March Addendum and More
- Blog|News|Account & Audit|
- 2 Min Read
- By Taxmann
- |
- Last Updated on 18 April, 2025
Latest from Taxmann
[2025] 173 taxmann.com 599 (Article)
Global Financial Insights is a weekly feature for the Accounts and Audit Module subscribers of Taxmann.com. It provides you with the latest updates on financial reporting and auditing practices from across the globe. Here is this week’s financial update:
1. IASB April 2025 Update alongside IFRIC March addendum
The International Accounting Standards Board (IASB) and the IFRS Interpretations Committee (IFRIC) have published their latest updates, summarizing decisions and discussions from the IASB’s April 2025 meeting and the IFRIC’s March 2025 session. These updates highlight ongoing efforts to enhance clarity and consistency in IFRS application.
2. IFRS for SMEs: Marked-up Standard & Module Updates released
The IFRS Foundation has published a marked-up version of the IFRS for SMEs Standard to highlight changes in the third edition. Updated educational modules, starting with Module 11: Financial Instruments, will begin rolling out from May 2025 to aid in implementation.
3. ISSB April 2025 Update: Spotlight on Biodiversity & Human Capital
The ISSB explored early research on biodiversity and human capital, aiming to guide future sustainability disclosures. A new Roadmap Development Tool was also launched to help companies implement reporting standards.
4. FRC Sanctions audit firm for Breach of Audit Tenure Rules
The FRC fined EY £325,000 and partner Christopher Voogd £32,500 for exceeding the 10-year audit limit without a public tender in the SWSF audit. The case exposed compliance failures in EY’s internal systems, underscoring the need for stronger controls and adherence to auditor rotation rules.
Click Here To Read The Full Article
Disclaimer: The content/information published on the website is only for general information of the user and shall not be construed as legal advice. While the Taxmann has exercised reasonable efforts to ensure the veracity of information/content published, Taxmann shall be under no liability in any manner whatsoever for incorrect information, if any.
Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.
The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:
- The statutory material is obtained only from the authorized and reliable sources
- All the latest developments in the judicial and legislative fields are covered
- Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
- Every content published by Taxmann is complete, accurate and lucid
- All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
- The golden rules of grammar, style and consistency are thoroughly followed
- Font and size that’s easy to read and remain consistent across all imprint and digital publications are applied
Everything on Tax and Corporate Laws of India
To subscribe to our weekly newsletter please log in/register on Taxmann.com
CA | CS | CMA
