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Financial reporting

View a range of practical resources on UK GAAP, IFRS and UK regulation of financial reporting, and find out more about the ICAEW Financial Reporting Faculty.

In this section

Current issues

Periodic review of UK GAAP

The Financial Reporting Council (FRC) has issued proposed changes to UK GAAP for public consultation. Find out more about what is included in FRED 82 and how entities might be affected.

Evaluating going concern

Resources to help management, investors and auditors understand the going concern concept and the evidence and disclosures required.


FRS 101

FRS 101 Reduced Disclosure Framework sets out disclosure exemptions available to UK qualifying subsidiaries and parent companies that otherwise apply EU-adopted IFRS.

FRS 102

FRS 102 The Financial Reporting Standard is the principal accounting standard in the UK financial reporting regime. It sets out the requirements for entities that are not applying adopted IFRS, FRS 101 or FRS 105.

FRS 105

FRS 105 is the UK accounting standard for entities eligible for, and who choose to apply, the micro-entities regime.

UK GAAP for small and micro-entities


IFRS accounting standards

International Financial Reporting Standards (IFRSs) and IFRICs are accounting standards and interpretations published by the International Accounting Standards Board (IASB).

UK endorsement of IFRS

UK preparers can only apply new and amended IFRSs once they have been UK-endorsed.

Effective dates for IFRS

Mandatory dates identify which new IFRSs, IFRICs and amendments come into force for different time periods, linked to the ICAEW Financial Reporting Faculty’s standards tracker.

UK regulation for company accounts

Non-financial reporting

Section 172(1) Statement

This page covers the Section 172 (s172) reporting requirements, where they come from and which companies they apply to, as well as some top tips and links to further resources on the topic.

TCFD and related UK reporting regulations

On this page, the Financial Reporting Faculty provides an overview of the Task Force on Climate-related Financial Disclosures (TCFD) and associated recommendations. It also explains how TCFD fits in with UK reporting requirements and the IFRS Foundation’s new International Sustainability Standards Board (ISSB).

Climate-related Financial Disclosure Regulations

This factsheet provides an overview of the Climate-related Financial Disclosure Regulations 2022. This factsheet applies to UK companies and LLPs that report under both UK GAAP and IFRS.

Improving corporate reporting

News and insights