The UK’s FRC is not alone in its expectations for improved reporting on intangible assets, though their discussion paper from February 2019 (‘Business Reporting of Intangibles: Realistic Proposals’) remains front and center as valuation organisations (and IASB/FASB) review current methods. ACCA, ICAEW, RICS, and many member organisations including the Big Four in the UK have responded to this discussion paper, so the debate continues.
Last summer’s meeting of the European Financial Reporting Advisory Group (EFRAG) summarized current UK and global efforts to improve business reporting for intangible assets. FRC and the International Valuation Standards (IVS) update effective this week are not alone in demanding better analyses of these often-complex assets.
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