Technical Alert 10/2020 – September 2020 Highlights




Technical Alert – September 2020 Highlights

This is ICPAC’s Technical Alert for September 2020, providing information about some of the latest news on standard-setting, European developments as well as sharing recent publications and articles relevant to the profession as shown below.

The TA 10/2020 can be downloaded here.

September 2020 Highlights


Standard-setting updates and other developments

IASB Update

  • IASB Board Meeting
  • IASB completes response to IBOR reform with amendments to IFRS Standards

IAASB Update

  • New Illustrative Examples for ISA 540 (Revised) Implementation: Expected Credit Losses
  • IAASB Discussion Paper on Fraud and Going Concern and related information gathering Roundtables

European Developments

  • Financial stability: Commission addresses risks of Libor cessation
  • Digital finance
  • Developing Environmental Generally Accepted Accounting Principles


Publications and articles relevant to the profession

  • Business assistance restrictions – state aid and ‘undertakings in difficulty’, ICAS
  • Supercharge your audit process with AI, IFAC
  • How Could Automation and AI Change the accountant’s Role? CPA
  • SMP Pacesetters Embracing Technology, IFAC
  • End of LIBOR in the US: How all industries, not just banks, can prepare, Journal of Accountancy
  • What the experts say: How audits will look in the post-COVID-19 era, In the Black
  • IFAC Calls for creation of an International Sustainability Standards Board alongside the IASB, IFAC




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