FRS in Practice – Ethics, Governance and Real-World Application

This workshop goes beyond technical application of FRS by embedding ethics, governance and business judgment into key financial reporting areas.

Through real-world case studies, role-play exercises and scenario analysis, participants will learn how accounting standards influence corporate decision-making, stakeholder communication and financial integrity.

Learning Objectives:

• Strengthen technical knowledge of key FRS standards
• Understand how governance and ethics intersect with financial reporting
• Improve judgment and decision-making in complex accounting scenarios
• Gain practical skills to communicate financial positions with integrity to stakeholders

Key Topics

Tangible Assets, Leases, Valuation & Grants

• FRS 16 Property, Plant & Equipment – capitalisation vs expensing, impairment testing, governance approval processes and the ethical risks of aggressive capitalisation
• FRS 116 Leases – embedded leases, sale & leasebacks, substance over form, structuring risks and lessons on governance breakdowns
• FRS 113 Fair Value Measurement – hierarchy levels, external valuers, optimism bias and the ethical line between fair presentation vs opportunistic valuation
• FRS 20 Government Grants – grant recognition and deferral, conditions attached, governance around compliance and ethical pitfalls of subsidy manipulation
• Integration Segment #1 – cross-standard application through case studies and role-play showing how ethics and governance underpin technical reporting choices

Financial Instruments, Group Reporting & Transfer Pricing

• FRS 109 Financial Instruments – ECL provisioning, classification choices, smoothing risks and governance oversight in financial risk reporting
• Group Reporting & Related Parties (FRS 110, FRS 24) – consolidation dilemmas, structured entities, related-party disclosures and ethical transparency in group structures
• Transfer Pricing Considerations – financial reporting vs tax implications, minority fairness and the governance role in balancing shareholder vs regulator interests
• Integration Segment #2 – cross-standard application through case studies and role-play, highlighting how ethical blind spots and governance failures amplify technical weaknesses