UK
Ireland
FRED 82 – What is changing?
The Financial Reporting Council has proposed a number of changes to FRS 102 within its Financial Reporting Exposure Draft (“FRED 82”) and it constitutes a significant update to the financial reporting standards within the UK and Ireland.
The amendments focus on updating accounting requirements so that they reflect UK Adopted International Accounting Standards (“IFRS”), whilst noting that the general size and complexity of entities applying FRS 102 is different to those under IFRS.
The changes will become effective for accounting periods beginning on or after 1 January 2026.
Are you ready?
How can we help?
We regularly assist clients who require support on the conversion from UK GAAP to IFRS.
The type of work we assist with can include:
- Preparing a high-level impact assessment
- Preparing transition papers for specific accounting standards where there is a material impact on conversion
- Assisting with the calculations required for the adjustments on conversion
If you would like to discuss the impact of FRED 82 or require support on your conversion, please do reach out to a member of our team.
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