Source · Select Committees · Business and Trade Committee
Recommendation 15
15
Not Addressed
Paragraph: 80
We recommend that the Financial Conduct Authority and HM Treasury investigate the use of, and...
Recommendation
We recommend that the Financial Conduct Authority and HM Treasury investigate the use of, and accounting rules for, future or prospective receivables.
Government response summary AI-generated
The government's response thanks the Committee for agreement on the inappropriateness of a grant to GFG Alliance, without addressing the recommendation to investigate accounting rules for future or prospective receivables.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
80
Government Response
Not Addressed
HM Government · verbatim extract
Not Addressed
25. The International Accounting Standards Board (IASB) has an active project on its agenda in respect of supply chain finance (reverse factoring) arrangements. On 26 November 2021, the IASB issued an Exposure Draft which proposed amendments to IAS: 7 Statement of Cash Flows and IFRS: 7 Financial Instrument Disclosures.
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