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Latest update on the Future of UK Financial Reporting Standards & Republic of Ireland

ASB responds to IASB ED: Proposed amendments to IFRS 10

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* The latest ASB Status Report is now available to download.

The January 2012 edition of the ASB newsletter Inside Track is available.

The ASB occasionally holds public meetings to discuss ASB work.
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* Small Companies *
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* Companies that qualify as small under the Companies Act 1985, and other entities of similar size, are entitled to use the special accounting standard-

The FRS for Smaller Entities (FRSSE)

Those doing so are then exempt from applying other accounting standards and UITF Abstracts.
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UK GAAP in the Future

Change is coming for accounting standards in the UK. The current UK GAAP is set to be swept away and replaced with a new regime based around the IFRS for SMEs. While it is envisaged that FRSSE would remain for now, these radical changes could ultimately affect virtually all companies in the UK.
Read more about this event
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* Latest Press Notices *
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* ASB issues revised proposals for the Future of Financial Reporting Standards in the UK & Republic of Ireland
30/01/2012

ASB and EFRAG issue a Discussion Paper: 'Improving the Financial Reporting of Income Tax'
22/12/2011

ASB welcomes the publication of Financial Services Authority (FSA) Guidance Paper 'Forbearance and Impairment Provisions - Mortgages'
05/10/2011

ASB issues Amendments to FRS 29 (IFRS 7) 'Disclosures - Transfers of Financial Assets'
07/07/2011

ASB publishes Report on Cutting Clutter from Annual Reports
06/04/2011

Proposals for a Public Benefit Entity Standard for Tier 2 Entities
18/03/2011

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