Choosing your GAAP — Plotting your course through the new Irish reporting regime

Published on: 26 Apr 2013


FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland is considered the biggest change in accounting and reporting in Ireland in a generation.

For the majority of Irish entities, this is undoubtedly the case. A long time coming, but worth the wait as it will bring greater cohesiveness and clarity to financial reporting by Irish entities.

Forward planning is vital for a successful transition. This guide from Deloitte (Ireland) provides a route map through the practical issues of who can and should do what, and when. Full implementation is not required until 2015 and that may sound a long way off, but an opening balance sheet will be required from 2014.


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