Reporting impact assessments for FRS 101, FRS 102 and IFRS


The Accounting Council of the FRC has issued FRSs 100, 101 and 102, which set out the choice of accounting framework applicable in the UK and Republic of Ireland, replacing existing GAAP standards. Our FRS 101 and FRS 102 Reporting Impact Assessments are a practical response to help you understand the potential effects of the new standards on your financial statements.


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The challenges of FRS 102 for Irish business

Three of the greatest challenges for Irish business with FRS 102 (or Irish GAAP) are accounting for intercompany loans, pensions and derivatives. Applying FRS 102 isn’t easy, and is much more time-consuming than may be expected, so our experts advise that it is best to plan early and involve valuation experts, tax advisors or other specialists.

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Irene O'Keeffe


Tel: +353 1 792 8563

Damian Ruttledge


Tel: +353 1 792 6780

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