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FRS 102 improvements

Marianne Mau of the Financial Reporting Faculty outlines some of the improvements made to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland as a result of the Triennial review 2017 amendments.

The first Triennial review of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland has now been completed and the amendments issued, effective 1 January 2019. Early application is permitted provided all amendments – with some important exceptions as noted below – are applied at the same time.