Accounting and Auditing Insights

Accounting and auditing standards continue to evolve in response to changes in business practice, financial reporting, sustainability reporting, assurance and regulation. This hub brings together key UK, international and AIA resources to support members in preparing, auditing and advising on high-quality financial and non-financial reporting.

Use this page to access current UK accounting standards, IFRS Accounting Standards, auditing and assurance standards, sustainability reporting developments, and AIA policy responses.

Accounting standards are a set of principles companies follow when they prepare and publish their financial statements, providing a standardised way of describing the company’s financial performance.

UK Accounting Standards

The FRC sets UK and Ireland accounting standards. You can find details of all current UK financial reporting standards below. 

International Financial Reporting Standards

International Financial Reporting Standards are an internationally recognised set of accounting standards that bring transparency, accountability and efficiency to financial markets around the world.

Latest Developments

  • FRS 102 Periodic Review 2024 - the September 2024 editions of UK and Ireland accounting standards incorporate the Periodic Review 2024 amendments, with significant changes to FRS 102, especially leases and revenue recognition.
  • FRS 102 implementation dates - most Periodic Review 2024 amendments are effective from 1 January 2026, while some factsheets and changes have later applicability.
  • UK Sustainability Reporting Standards - UK SRS S1 and UK SRS S2, published by government on 25 February 2026 and available for voluntary use.
  • IAASB Handbook 2025 - update the IAASB section to refer to the current five-volume 2025 Handbook, including ISSA 5000 and revised fraud and going concern standards that are included but not yet effective.

Standards and Guidance:

Accounting Standards
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International Auditing and Assurance Standards
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UK Endorsement of International Accounting Standards
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Standards and Guidance for Auditors
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Consultations

AIA responds to many invitations for comment, including consultation and discussion papers, published by regulatory bodies, government, standard-setters on a  range of topics affecting the work of our members. Working alongside our members we seek to make a strong contribution to policy and debate and in doing influencing the shape and future of the profession.

Access open and recent consultations here.

 

Other Resources:

IFRS by Jurisdiction

IFRS by Jurisdiction

Search and view specific countries and their approach to IFRS.

International Standard Setting Boards

International Standard Setting Boards

The work of the international, independent standard-setting boards produce high-quality, global standards for audit and assurance, professional ethics, public sector financial reporting, and professional skills and competencies.

The International Auditing and Assurance Standards Board

The International Accounting Education Standards Board

The International Ethics Standards Board

The International Public Sector Accounting Standards Board