International Accounting Standards.

EC Regulation (Regulation (EC) No. 606/2002) requiring that, for financial years starting on or after 1 January 2005, EU publicly traded companies must prepare their consolidated financial statements in line with adopted International Financial Reporting Standards (IFRS).

A company's individual accounts or group accounts prepared in accordance with international accounting standards.

Individual accounts that have been prepared in accordance with international accounting standards, rather than in accordance with the CA 2006 (or Companies Act individual accounts).

The International Accounting Standards Board (IASB) has published a proposed update to the International Financial Reporting Standards (IFRS) Accounting Taxonomy (AT) 2024. The proposed updates reflect the new and amended disclosure requirements in IFRS 19 ‘Subsidiaries without Public Accountability: Disclosures’, ‘Amendments to the Classification and Measurement of Financial Instruments’ which amended IFRS 9 ‘Financial Instruments’ and IFRS 7 ‘Financial Instrument’, and ‘Annual Improvements to IFRS Accounting Standards—Volume 11’. The IASB welcomes comment on the proposed update until 28 October 2024.

The International Accounting Standards Board (IASB) has released a new International Financial Reporting Standards (IFRS) Accounting Standard to aid investor analysis of companies’ financial performance. The new standard, IFRS 18 ‘Presentation and Disclosure in Financial Statements’, aims to give investors more transparency of management-defined performance measures, comparability in the statement of profit or loss and more useful grouping of information in financial statements, thereby enabling better investment decisions. IFRS 18 will be effective for annual reporting periods beginning on or after 1 January 2027.

The Independent Anti-Slavery Commissioner (IASC) has released its Strategic Plan for 2024-2026, emphasising the role of businesses and public bodies in preventing modern slavery. The plan outlines actions to strengthen the UK's policy response to forced labour in domestic and global supply chains, including pushing for mandatory human rights due diligence legislation. The IASC will encourage businesses to go beyond compliance with the Modern Slavery Act 2015, promote ethical recruitment practices, and support the public sector in leveraging its procurement power to combat modern slavery. The strategy also aims to improve victim identification, support, and prosecution rates while integrating lived experience perspectives into anti-slavery efforts.

This refers to ICE Benchmarks Administration Ltd, the administrator of LIBOR

The International Bar Association (IBA) Arbitration Committee has published a study on ethnic diversity in international arbitration, conducted by Cortex Capital. Based on responses from 305 participants across 76 countries, the research found that 68% of respondents considered current levels of ethnic diversity on tribunals to be lacking. The study, revealed that 89% of respondents believe ethnic diversity supports arbitration legitimacy, while 80% indicated it impacts perceived fairness. The research aimed to establish an empirical baseline for understanding the arbitral community's views on ethnic diversity in tribunals.

The International Bar Association's (IBA's) Investment Arbitration (IA) Subcommittee has published a report on examining the time taken to constitute arbitral tribunals in investment arbitrations. The report, developed in collaboration with four major arbitration institutions, analyses previously unavailable timing data and provides recommendations for improving efficiency in tribunal constitution processes. The study aims to address the observed lack of comprehensive data on tribunal formation time frames in investment arbitration cases.

The International Bar Association (IBA) Investment Arbitration Subcommittee published a report on third-party participation (TPP) in investor-state dispute settlement (ISDS), examining the increasing role of amici curiae and non-disputing treaty parties (NDTPs) in investment arbitration. The report finds that TPP has become a common feature of ISDS, with applications rising significantly over the past two decades, particularly in ICSID proceedings, and a majority of applications being granted. It reviews the legal frameworks governing TPP, including treaty provisions and arbitration rules, and identifies inconsistencies in how tribunals assess applications, disclosure requirements, party involvement and procedural safeguards.

The International Bar Association (IBA) Arbitration Committee has announced its 27th Annual IBA Arbitration Day scheduled for 28–29 January 2026 at the Rosewood Abu Dhabi, United Arab Emirates. The conference themed ‘New Horizons’ will examine emerging areas in international arbitration influenced by technology, emerging industries and shifting global dynamics. Topics include arbitration in unconventional environments, new energy sectors, smart cities, space exploration disputes and virtual assets. The event aims to prepare practitioners for disputes arising from new technologies and sectors that are reshaping international arbitration practice.