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Financial Reporting after Brexit

Article ID: 3126
Last updated: 14 Dec, 2020

How will Brexit affect financial reporting?

The uncertainty caused by Brexit may affect the accounting estimates that are used in various areas of financial reporting, such as fair values, impairment assessments and going concern forecasts. Wording of disclosures on potential risks also requires thinking about.

In addition a number of changes in the law that underpins financial reporting is necessary to reflect the fact that the UK is no longer a member of the EU.

Guidance on considerations for financial reporting

To assist you with these considerations we have collated some links which provide some useful information and guidance.

Financial Reporting Council -the impact of EU exit

Company Law guidance regarding Brexit

ICAEW Brexit implications for financial reporting

Article ID: 3126
Last updated: 14 Dec, 2020
Revision: 7
Views: 33
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folder Company Secretarial