Financial reporting brief - special edition December 2012 |
Changes just made to Irish company law will enable many Irish companies, particularly subsidiaries of groups preparing IFRS financial statements, to avail of a reduced disclosure framework and potentially achieve improved efficiency in the group consolidation process.
A reduced disclosure framework was introduced by the FRC in recent weeks, with the publication of FRS 101 (and 100), and the option to early adopt the standard for December 2012 financial reporting.
FRS 102, the standard which will replace current Irish/UK accounting standards, is due for publication early in 2013.
Financial reporting brief special edition - December 2012
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