This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Irish GAAP in your pocket – a guide to FRS 102

Published on: 31 Oct 2013

The Financial Reporting Council (FRC) published FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland earlier this year. It replaces all existing Irish FRSs, SSAPs and UITF Abstracts with one single comprehensive standard.

Replacing the patchwork of current Irish GAAP with one single comprehensive standard should certainly make life easier but it is a new challenge for the majority of Irish entities. Transition by 2015 will have to be confronted and careful forward planning is vital to avoid any unwelcome surprises. If not already begun, this should start now as for calendar year end reporters transition date is little more than a couple of months away.

This publication from Deloitte (Ireland) summarises the main requirements of FRS 102, highlighting key differences compared to both existing Irish GAAP and EU-endorsed IFRS.

Download

Related Topics

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.