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FRC requests views to inform the next periodic review of FRS 102

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29 Mar 2021

The Financial Reporting Council (FRC) is starting the next periodic review of FRS 102 (and other UK and Ireland accounting standards). The last periodic review of the standard was in December 2017 as part of the triennial review of the standard.

Part of the process involves seeking views from stakeholders on those areas that might be considered as part of the review.  In addition to stakeholder feedback the review will consider recent developments in financial reporting (such as changes in IFRS) and relevant developments in the wider reporting framework.  Any changes to accounting standards that are proposed as a result of the periodic review will be subject to public consultation at a later date, not expected to be before 2022.  The effective date for any amendments is currently expected to be 1 January 2024. 

Stakeholders are asked to provide comments by 31 October 2021.  The FRC expects to hold roundtable events for stakeholders to provide their views and will be issuing further information in due course.

Further information is available on the FRC website.

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Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.