A new publication from Grant Thornton considers how tax issues resulting from the UK’s decision to leave the European Union may affect financial reporting.

It is among the topics discussed in the latest IFRS News, a quarterly publication focused on International Financial Reporting Standard.

The new edition also looks at a number of proposals that have been published by the International Accounting Standards Board (IASB), including the latest instalment in the IASB’s ‘Disclosure Initiative’ project, a discussion paper which suggests principles to make disclosures in financial statements more effective.

Martin Kneale, a director at Grant Thornton in the Isle of Man, said: ‘IFRS are becoming established as the global standard for the preparation of public financial statements. They are detailed and technical and can appear hard to navigate.

‘Grant Thornton has been leading the way in examining proposals and developments, assessing and analysing the impact of each and sharing regular updates in easy to understand, plain English to our clients.

‘IFRS News brings together the most important topics, with expert insight and commentary, making an extremely valuable tool for any business concerned by IFRS, including those based in the Isle of Man.’

IFRS News also looks at the IASB’s position on proposed improvements to IFRS 8 on Operating Segments, targeted amendments to IFRS 9 on Financial Instruments, a round-up of financial reporting developments, a summary of implementation dates for standards that are not yet mandatory and a list of IASB publication that are out for comment.

If you would like to receive IFRS News and related content please contact 639494 or visit www.grantthornton.global/en/insights/articles/ifrs-news---q2-2017/

Photo - Martin Kneale.