Tag Archives: FRS 102



New Procedures Manual to help with AML

We have just published an update to the AML Policies Controls & Procedures Manual last week, which is available to purchase now on our website. Our latest February 2020 edition includes the following updated items: Pronouncement by the FATF arising from their Public Consultation on FATF Draft Guidance on Digital Identity (discussed at the FATF plenary meeting… Read More


FSSU deadline highlights the inadequacies of the Education Act, 1998

Many accountants and auditors are working hard this week to assist primary and post-primary schools around Ireland meet the 28 February 2020 deadline set by the Financial Support Services Unit (FSSU) for the filing of schools’ annual financial statements. The Education Act, 1998 (the Act) is the relevant legislation that governs this area but it’s… Read More



How to deal ethically with conflicts of interest

As we highlighted last week there is a newly revised and restructured Code of Ethics coming soon for accountants in Ireland, expected to be effective from the 1st of March 2020. Sometimes accountants realise they have a conflict of interest due to lack of foresight or pre-planning. An example could be trying to sort out… Read More


NOCLAR – One of the forthcoming changes to the Code of Ethics

As we highlighted last week there is a newly revised and restructured Code of Ethics coming soon for accountants in Ireland, expected to be effective from the 1st of March 2020.  As readers might know, the Code of Ethics used by accountants across the British Isles is based on the code issued by the International… Read More


The five fundamental principles of ethical behaviour

A reminder of what they are before the new Code of Ethics becomes effective The nature of accountancy and the complexity of the work that accountants, tax advisers, insolvency practitioners and auditors do, means that this work needs to be trusted, and demonstrate the highest standards of professional conduct.  The Code of Ethics and its… Read More


How do I account for a change in depreciation policy?

A question that I often get asked is: how are changes in depreciation policy accounted for?  The follow up question usually asked is whether such changes are accounted for prospectively or retrospectively under FRS 102?  The answer, however, depends on whether the change is a change in ‘estimate’ or a change in accounting ‘policy’. Change… Read More


Have you prepared your Business Risk Assessment?

A new requirement – to protect firms against the risk of money laundering – came into law last year, but many firms may not yet have prepared the relevant document. The Fourth Money Laundering Directive (2015/849/EC) was transposed into Irish legislation in November 2018 by way of the Criminal Justice (Money Laundering and Terrorist Financing),… Read More