The Financial Reporting Council (FRC) have
issued amendments to the application guidance to FRS 100. These amendments were consulted on earlier this year, via
FRED 80.
The amendments to the application guidance to FRS 100 provide guidance on how Irish intermediate parents with a UK parent can assess equivalence of consolidated financial statements when applying section 300 of the Companies Act 2014. Similarly, the amendments provide application guidance on equivalence when applying section 401 of the Companies Act 2006 in the UK.
In addition to the amendments, the FRC has also issued a
revised edition of FRS 100. This incorporates all changes to the standard since the previous edition was issued in 2018.