IAASA, Ireland’s accounting enforcer, in line with its established policy of publishing selected financial reporting decisions, has today published financial reporting decisions regarding the accounting treatments applied by Bank of Ireland Group plc, Crown Global Secondaries IV plc, Irish Residential Properties REIT plc, Kerry Group plc, Kenmare Resources plc, and Smurfit Kappa Group plc.
These decisions cover a range of accounting matters including:
IFRS 9 Financial Instruments;
IFRS 13 Fair Value Measurement;
IFRS 15 Revenue from Contracts with Customers;
IAS 1 Presentation of Financial Statements; and
IAS 36 Impairment of Assets.
These decisions include instances where the company voluntarily agrees to enhance its accounting treatment and/or disclosures in future financial reports to address matters identified in the course of IAASA’s examinations. They may also include instances where IAASA agrees with or does not disagree with the accounting treatment applied by the company and, consequently, no corrective actions by the company are required.
IAASA’s policy on publishing financial reporting decisions and the criteria to be met for such decisions to be published is set out in IAASA’s Policy Paper on Publication of IAASA’s Financial Reporting Findings.
The financial reporting decisions for each issuer are included in a compendium of decisions which can be accessed here.
IAASA will continue to publish selected financial reporting decisions periodically.