Chartered Accountants Ireland and FRC launch 'New Irish and UK GAAP' in Ireland at event in Chartered Accountants House

Oct 01, 2013

Following the publication of FRS 100 to 102 on 22 November 2012 and 14 March 2013, Chartered Accountants Ireland joined with the Financial Reporting Council (FRC) to launch the new standards at an event held in Chartered Accountants House on 30 September.

The event, chaired by CAI Accounting Committee chairman, Terry O'Rourke, opened with a short address by CAI President, Brendan Lenihan, in which he welcomed the publication of the standards and committed the Institute to assisting with their implementation in this country.

The President's address was followed by a presentation by Melanie McLaren, Executive Director, Codes & Standards, FRC and Jenny Carter, Project Director responsible for UK and Irish GAAP. Their presentation covered the development of the standards during a series of consultations over the past ten years, implementation issues and the work that remains to be done by the FRC on Irish and UK GAAP, such as the completion of FRS 103 on insurance, the update of the SORPs, a consultation on the future of the FRSSE and updating FRS 101 for changes in IFRS.  Fiona Hackett and Úna Curtis, both members of the CAI Accounting Committee, then presented some background to the project and on specific implications of FRS 101 and FRS 102.  

The presentation slides are available to download by clicking here.

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