FRS 102 Section 1A - to disclose or not to disclose?
Tessa Park discusses FRS 102 Secton 1A's disclosure requirements for small entities.
Tessa Park goes into detail about FRS 102 Section 1A’s disclosure requirements for small entities, including related party disclosures, going concern and additional statements
Three years after the effective date for application of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland by small companies in 2016, the minimal disclosure regime introduced by company law, and reflected in Section 1A Small Entities (Appendices C and D), is causing a number of issues in practice. Accounts prepared under Section 1A must still give a true and fair view, so additional disclosures may be needed when the minimum disclosures are insufficient to meet this requirement.
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