The Future of UK GAAP
21 Jul, 2010
In August 2009 the Accounting Standards Board (ASB) had issued a consultation paper Policy Proposal: the Future of UK GAAP, which set out proposals for the future reporting requirements for UK and Irish entities.
The deadline for comments on the proposal ended 1 February 2010. The ASB's next steps include developing and drafting a Financial Reporting Exposure Draft (FRED) for consultation. The FRED will include an impact assessment. The ASB has now issued a request for responses to aid the development of that impact assessment. The request for responses Assessing the impact of the Accounting Standards Board proposals for the future of UK and Irish Financial Reporting can be downloaded here (PDF 75k). The deadline for responses is 20 August 2010.
Click for earlier story: Proposal to adopt IFRS for SMEs in place of UK/Irish FRSs
