The Accountant — a daily ledger of accounting, controls & regulation

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Classification of income and expenses in the statement of profit or loss

Big 4 technical deep-dive on IFRS 18 classification rules—essential reading for P&L restructuring and restatement planning ahead of mandatory adoption.

grant thornton · 29 apr

1963 12 jun the national UAE corporate tax: How one company's bonus could set a precedent Emirates bonus announcement may informally shape FTA interpretation of reasonable employee compensation deductibility. Worth monitoring for transfer pricing and tax-planning implications in your jurisdiction.

1870 11 jun frc Investigations into the conduct of individual accountants, auditors and firms in relation to Market Financial Solutions and connected companies FRC investigation into auditor and accountant conduct signals potential breach of professional standards; comparable cases inform judgement on similar risk areas.

1791 10 jun frc Investigation regarding the conduct of a Member in relation to P&O Ferries Division Holdings Limited FRC enforcement action against an audit firm member over P&O Ferries audit conduct; informs judgement on auditor independence and engagement quality expectations.

1706 9 jun frc Investigation regarding an audit of WH Smith plc by PricewaterhouseCoopers LLP FRC audit investigation signals potential audit quality or judgement issues; informs assessment of similar high-profile client audits and auditor governance.

1057 29 may grant thornton Presentation and disclosure of share-based payment transactions Big 4 guidance on IFRS 2 presentation and disclosure — relevant if your group has material share-based compensation plans.

0954 28 may frc Sanctions against BDO LLP and Geraint Jones UK regulator sanctions against major audit firm and partner; relevant precedent for audit quality expectations and enforcement risk assessment.

0742 24 may the national Who's in charge? Understanding control in UAE corporate tax FTA clarifies substance-over-form test for director and officer roles in connected-party deductions under UAE corporate tax—directly affects transfer pricing compliance and disclosure obligations. ▪ read

0203 17 may icaew UKEB seeks stakeholder engagement on the draft endorsement assessment of IFRS 18 UK endorsement of IFRS 18 is in public comment phase. Material if your group reports under UK-adopted standards or plans a UK subsidiary transition.

0070 10 may uae mof Ministry of Finance announces targeted amendments to eInvoicing system decisions The UAE eInvoicing deadline extension requires accounting service providers to update their compliance schedules and track new implementation dates. ▪ read

0030 1 may frc Findings in relation to Mr Adam and Mr Khan, and confirming enforcement action against three further individuals FRC enforcement action against senior finance officers for accounting failures provides instructive precedent on director duties and integrity standards.

0021 30 apr grant thornton Example Interim Condensed Consolidated Financial Statements 2026 Big 4 worked example showing current IFRS interim reporting format and disclosures—useful reference for drafting your own interim statements.

0017 29 apr pwc April 2026: Episode 2 of Decoding IFRS 18 — Lessons from Early Adopting IFRS 18 in PwC's Reinvented Illustratives PwC's worked example and early-adoption lessons on IFRS 18 presentation mechanics offer practical implementation guidance for transition planning. ▪ read

0012 27 apr grant thornton Principal versus agent considerations Big 4 deep-dive on a persistent IFRS 15 application question; resolves real classification disputes in practice. ▪ read

0011 24 apr grant thornton Example Sustainability-related Financial Disclosures 2025 Big 4 worked examples on IFRS S1/S2 application — clarifies practitioner questions on metric selection and disclosure sequencing. ▪ read