FRC consultation on FRS102 implementation issues

ACCA has responded to an invitation to comment issued by the Financial Reporting Council on FRS102 implementation issues.

ACCA has reached out to members in UK and Ireland to gather their views on different implementation issues with FRS102, including a round table meeting to discuss them.

These views have now been submitted to FRC to assist with their triennial review of the standard in the attached document. 

We will be making a further submission in December in reaction to FRC’s proposals to incorporate recent changes to IFRS into FRS102.  

During 2017 we intend to gather views of those implementing the new UK standards for smaller companies – FRS102 including section 1A and also FRS105 for micro entities. If you have any views on application issues with FRS102 or FRS105, or the further amendments for developments in IFRS we would be very grateful to hear from members