FRC publishes new factsheet on UK GAAP for Public Benefit Entities
News types: Publications
Published: 30 October 2026
The Financial Reporting Council’s (FRC) new FRS Factsheet, published today, explains the accounting standards available to public benefit entities (PBEs), outlining how PBE-specific considerations have been incorporated into the UK and Republic of Ireland financial reporting frameworks.
It is the latest addition to the FRC’s growing suite of factsheets and explainers designed to provide practical guidance on specific aspects of financial reporting requirements and complement the FRC’s wider programme of engagement and support for preparers.
The factsheet suite has been expanded and updated in recent years to support implementation of significant changes to UK GAAP, including the Periodic Review 2024 amendments to FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’. The collection now covers a wide range of topics including revenue recognition, lease accounting, climate-related matters, financial instruments, business combinations, going concern and presentation of financial statements.
The full suite of FRS factsheets and explainers is available on the FRC’s website.