The 2022 syllabus updates for the Corporate Reporting paper represent the most minimal updates to the CR syllabus that we have seen for many years.
This is great news both for students (who can therefore make full use of any prior year resources) and tutors (as we only have to make minor adjustments and tweaks to our 2021 materials and on-demand videos).
As usual, the main area which the examiners have tweaked relates to the introductory chapters in the Corporate Reporting Workbook dealing with the more narrative aspects of the Conceptual Framework and other definitional aspects.
There have also been some minor updates in relation to the Audit chapters to allow for small changes in some of the recent standards, but these generally amount of very minor wording changes rather than any significant technical updates.
There have been essentially no changes to the Financial Reporting elements of the syllabus, in contrast to several other recent updates to allow for major changes in relation to IFRS 9 and IFRS 15 (both of which became the main examinable standards at the Advanced Level in 2019) and IFRS 16 (which became the main examinable standard at the Advanced Level in 2020).
To be honest, it is nice to have a break from the need to update the financial reporting aspects of our content significantly – thinking back, the updates in 2019 were particularly significant whilst the 2020 updates had to be made during the first UK “lockdown” following the start of the Covid-19 outbreak. Both years were therefore quite a lot of work for our team!
Although 2021 was also a year in which there were relatively minor syllabus updates, it is nice to have a second year of relatively few changes ... and the 2022 syllabus updates are probably more minimal even than 2021.
As a result of these minimal updates, you should have no problems using any prior year resources as you will not have to allow for many changes or new technical points.
We have of course created a detailed set of quick-fire questions on the 2022 syllabus updates which are included in all our CR resources on our online learning platform, just to make sure that you have a fully interactive way of staying fully up-to-date.
For more information on our various Corporate Reporting e-books, PDF publications, on-demand video courses and live teaching sessions, please click here.