London: +44 (0)20 7236 2601
St Albans: +44 (0)1727 869141
Rickmansworth: +44 (0) 1923 771010
Milton Keynes: +44 (0)1908 605552

New financial reporting standard

On 14 March 2013 the Financial Reporting Council issued FRS102 The Financial Reporting Standard applicable in the UK and Republic of Ireland.

This standard is effective from 1 January 2015 but may be adopted early for accounts periods ending on or after 31 December 2012 (but see below).

The standard applies to unlisted companies and subsidiaries of unlisted companies as well as public benefit entities (i.e. charity and not for profit). The Charities Statement of Recommended Practice (SORP) will be revised to take FRS102 into account and public benefit entities can not adopt FRS102 until the new SORP is issued.



Date: 2nd April, 2013
Author: Louise Giles


Articles from this Author


We are supporting our Charity of the Year @macmillancancer with #GoGreen across our offices today @emma_heley

Mercer & Hole Partner, Chris Laughton offers expert opinion in court case: Brewer v Iqbal…



For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole

Click here to follow us on LinkedIn