A central plank of global accounting rules has become a “performance penalty” which holds back investment in Britain, its financial services minister Andrew Griffith said on Tuesday. So-called mark-to-market, or valuing investments on a regular basis to reflect changes in …
Former European Central Bank President Jean-Claude Trichet will head an advisory group on setting up a global board for sustainability-related company disclosures, the IFRS Foundation said on Monday. The new International Sustainability Standards Board (ISSB), due to be unveiled ahead …
Moody’s Analytics has launched RiskIntegrity™ IFRS 17, a cloud-ready solution designed to help insurers report under International Financial Reporting Standard (IFRS) 17, the new standard governing insurance contracts. This new software will support insurers as they work to meet the …
The Bank of England said an agreement is needed as part of the Brexit process to protect the “long-term validity” of 20 trillion pounds ($27.1 trillion) of existing derivative contracts. The BOE’s Financial Policy Committee said on Monday that after …
The insurance sector is at risk of being further marginalized by investors because performance reporting has become more complicated as a result of Solvency II, according to a report published jointly by Autonomous Research and Willis Towers Watson. Based on …
Swiss Re has formed a strategic partnership with SAP SE, the enterprise application software company, to develop a solution to address the increasingly complex demands of global regulators, in the areas of financial steering and reporting. Insurance companies currently must …
Disgruntled shareholders are more likely to sue firms that use principles-based accounting standards instead of rules-based standards, according to a recent study by a University of Iowa accounting researcher. The study by Richard Mergenthaler, assistant professor of accounting in the …
