New UK GAAP
Set out below is a listing of the current projects of the Financial Reporting Council (FRC) related to 'New' UK GAAP.
Title | Description |
---|---|
FRSSE (effective January 2015) | In July 2015, the FRC published a new standard, FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime and amended FRS 102 to include new requirements for Small Entities. These became effective from 1 January 2016, when the FRSSE was withdrawn. |
SORPS and New UK GAAP | The Financial Reporting Council (FRC) has been working with SORP-making bodies in updating their SORPS to reflect the requirements of FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. |