FRS 102 is the standard for financial reporting for UK entities not applying IFRS, FRS 101 (Reduced Disclosure Framework), or FRS 105 (Micro-entities Regime). It sets out the financial reporting requirements for entities, including corporate, non-profit and non-corporate organisations.
In 2024, the FRC issued amendments to FRS 102 following its second periodic review. These amendments aim to better align UK standards with International Financial Reporting Standards (IFRS), particularly those introduced in recent years.
The principal effective date for these amendments is accounting periods beginning on or after 1 January 2026, with early application permitted provided all amendments are applied at the same time.
Now is the time to start preparing.
While these updates will primarily affect finance and reporting teams, they will also have a wider impact across your business. Early planning will help minimise disruption and ensure a smooth transition.
Whether you’re working in the corporate, charity or higher education sectors, our Resource Hub brings together expert insights and guidance to help you understand what’s changing and what it means for your business.
Take our survey to assess your readiness for the FRS 102 changes.
We’d love to hear from you. To book an appointment or to find out more about our services:
