The future of FRS 102 and financial reporting

Julia Bowyer FCA and Rachel Farris FCA CTA report on the ICAEW Corporate Reporting Conference where hot topics were major changes to FRS 102, future direction of corporate reporting and possible changes to Companies Act 2006 in light of government review 

ICAEW held its biennial conference on corporate reporting earlier this month, packed with presentations and panel discussions from the standard-setter, the government and experts in practice.

Sally Baker, head of corporate reporting at ICAEW said: ‘As well as offering deeper dives into the more complex aspects of new revenue recognition and lease accounting requirements, the day gave preparers and practitioners a unique opportunity to gain direct access to the standard-setter and policymakers from government and hear what the future of corporate reporting in the UK holds.

‘It was great to also feel such a buzz amongst delegates - the value of networking and learning through informal conversations with peers shouldn’t be underestimated and is a valuable element of in-person events. The Corporate Reporting Faculty were delighted the day was such a success and we hope to see many delegates again soon at future events.’

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