FRS 102 What happens next?
With outreach activity for the next periodic review of FRS 102 getting underway in 2021, Danielle Stewart considers what might be in store.
The first review of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland, 
The UK also has the advantage of a separate micro company standard, FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime, which has simplified measurement requirements. The existence of this standard means that we can save the smallest businesses from changes that might be inappropriate for this sector. Feedback indicates that small international companies consider FRS 105 to be a useful standard, and that an appetite exists for something similar within the international suite of standards.
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