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ARTICLE · 08 NOVEMBER 2011

The Future Of RP Reporting

Smith & Williamson
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Jackie Oakes outlines the potential substantial changes to financial reporting for the RP sector currently under consideration by the Accounting Standards Board.

United KingdomInsolvency/Bankruptcy/Re-Structuring
Jackie Oakes
Jackie Oakes

RP Issues - Winter 2011/12

Jackie Oakes outlines the potential substantial changes to financial reporting for the RP sector currently under consideration by the Accounting Standards Board.

There has been a considerable amount of commentary in articles and conferences on the potential substantial changes to RP financial reporting that are likely to emanate from the move towards IFRS. The sector responded amazingly well to the recently completed consultation on the draft changes. As a result, some very significant and positive changes are likely to be made. The Accounting Standards Board (ASB) is yet to formally report back, but there is no doubt that they have been considering the responses made by the sector with considerable care and in some cases, some concern. This article therefore only provides an outline of what may happen next and readers should be aware that this is subject to change given this is a moving position. There were arguably seven major areas

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