Overall, very little seems to have changed from the Financial Reporting Council’s (FRC) initial exposure draft, FRED 67 Draft Amendments to FRS 102 – triennial review, and most of the amendments proposed at that time have been retained. More information about those changes can be found in my article on FRED 67, but here I look at some of the key areas affected. 

Substantial content has been added to both FRS 102 Section 1A and FRS 105 Micro-entities Regime to enable small companies in Ireland to apply the small company and micro-entity regimes in conjunction with the Companies (Accounting) Act 2017, which came into force on 17 May 2017.