Chartered Accountants Ireland have stated that the new GAAP has been called the ‘biggest change to financial reporting in a generation’. The new standards will apply to accounting periods beginning on or after the 1st January 2015. As a director or financial controller of a company it is vital that your company is prepared to introduce these new GAAP. The first step will be to decide what level of the three tier system best suits your company: Timeline of change for the adoption of the new Irish GAAP –  FRS 102

How We Can Help

Over the next number of months we will be issuing blogs on some of the main areas where FRS 102 and current GAAP differ. Should you require additional information on the new Irish GAAP please contact our audit service director Will Townsend (wtownsend@cooneycarey.ie) on 01 677 9000.

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