FRC calls for feedback on new UK GAAP to inform its first triennial review
22 Mar, 2016
The Financial Reporting Council (FRC) is calling for feedback from stakeholders on their experiences of implementing new UK GAAP, particularly Financial Reporting Standard (FRS) 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The comments received will be used to inform the development of proposals for changes to accounting standards, which will be subject to formal consultation at a later date, expected to be during 2017, in advance of a planned effective date of 1 January 2019.
Comments are invited on all areas including the benefits of the new standards, suggestions for improvements or areas where implementation was challenging.
Comments should be sent to ukfrsreview@frc.org.uk.
The press release is available on the FRC website.
