Speeches made during Parliamentary debates are recorded in Hansard. For ease of browsing we have grouped debates into individual, departmental and legislative categories.
These initiatives were driven by Lord Pitt-Watson, and are more likely to reflect personal policy preferences.
Lord Pitt-Watson has not introduced any legislation before Parliament
Lord Pitt-Watson has not co-sponsored any Bills in the current parliamentary sitting
The illustrative examples provide guidance to help preparers meet the mandatory requirements within IFRS Accounting Standards, which are adopted in the UK as UK-adopted international accounting standards. However, application of this guidance does not form part of mandatory requirements and it is ultimately for companies and auditors to decide whether to use the examples. Any FRC engagement with companies and their auditors will be through either reviews of annual reports, or reviews of audits, undertaken as part of its Supervision work.
The illustrative examples provide guidance to help preparers meet the mandatory requirements within IFRS Accounting Standards, which are adopted in the UK as UK-adopted international accounting standards. However, application of this guidance does not form part of mandatory requirements and it is ultimately for companies and auditors to decide whether to use the examples. Any FRC engagement with companies and their auditors will be through either reviews of annual reports, or reviews of audits, undertaken as part of its Supervision work.
The UK Endorsement Board widely consulted with UK stakeholders, including investors and companies, throughout the International Accounting Standards Board’s (IASB) development of the illustrative examples. Feedback, on whether they would support companies in reporting the effects of climate-related, and other, uncertainties in their financial statements, was shared with the IASB and incorporated before finalisation.
The upcoming reporting cycle will clarify whether the guidance has influenced company reporting on such matters.
The UK Endorsement Board widely consulted with UK stakeholders, including investors and companies, throughout the International Accounting Standards Board’s (IASB) development of the illustrative examples. Feedback, on whether they would support companies in reporting the effects of climate-related, and other, uncertainties in their financial statements, was shared with the IASB and incorporated before finalisation.
The upcoming reporting cycle will clarify whether the guidance has influenced company reporting on such matters.