ISCA Financial Reporting Codification Framework

ISCA Financial Reporting Codification Framework

ISCA provides financial reporting technical content to its members and the accountancy profession through various avenues such as guidance publications, technical bites and articles. The various guidance and technical bites focus on emerging topical issues and new standards; and share ISCA’s views and best practices.  

ISCA developed its Financial Reporting Codification Framework ("Codification Framework") in November 2019. This Codification Framework establishes formalised categorisations, degrees of authority and due process for future issuance of any technical contents by ISCA. It will establish stature/credence to an ISCA technical content, promulgate ISCA’s view and promote and enhance quality, consistency and best practices to uphold technical excellence.   

For example, under Category 2, Financial Reporting Guidance (FRGs) are issued to share technical views and insights on issues, and/or best practices in an area/industry. FRGs are expected to be followed and ISCA members should be prepared to explain departures if called upon to do so.

With the Codification Framework in place, members of the public have the opportunity to provide comments and feedback upon exposure of technical contents. This due process will facilitate better adoption and application by the financial reporting eco system.

Please click here for the ISCA Financial Reporting Codification Framework. 

Please click here for Financial Reporting Guidances (FRGs). The public consultations can be accessed here

Please click here for the Financial Reporting Bulletins (FRBs).