Financial Reporting

Financial statements intended to give a 'true and fair view' in Ireland and the UK are subject to both the financial reporting standards of the applicable financial reporting framework and the accounting requirements of company law in the respective jurisdiction.

Accounting Standards

Irish and UK GAAP

The Financial Reporting Council (FRC) in the UK is the accounting standard setter for both Ireland and the UK.


International Financial Reporting Standards (IFRSs) are published by the International Accounting Standards Board (IASB). 

Company Law

Company Law in Ireland and the UK requires directors of companies incorporated in the respective jurisdictions to prepare financial statements/accounts for the company which give a “true and fair view”. 

Statements of recommended practice (SORPs)

SORPs are sector-driven recommendations on financial reporting, auditing practices and actuarial practices for specialised industries, sectors or areas of work, or which supplement FRC standards and other legal and regulatory requirements in the light of special factors prevailing or transactions undertaken in that particular industry, sector or area of work that are not addressed in FRC standards. SORPs also address matters that are addressed in FRC standards, but about which additional guidance is considered necessary. 

Institute publications

The Institute has produced Technical Releases and Technical Alerts on aspects of Financial Reporting.

Other miscellaneous publications and information

A selection of other publications and information that may be of relevance or interest is provided here, including a link to the Institute's 'Financial Reporting implications of Coronavirus' page.


We have assembled some articles of a financial reporting nature that may be of interest.

Practice Toolkits and courses

The Practice Consulting Team has produced a range of toolkits, including proforma financial statements and disclosure checklists. Members may also be interested in financial reporting related courses run by our Professional Development department.

Chartered Accountants Ireland can accept no responsibility for the content on any site that is linked to from the Institute website. Links are provided in good faith for the potential support of members and students.