CPA Ireland responds to FRED 82


The FRC’s FRED 82 proposed a number of changes resulting from the second periodic review of FRS 102 and other Financial Reporting Standards. The proposals include:

·       a new model of revenue recognition in FRS 102 and FRS 105;

·       a new model of lease accounting in FRS 102;

·       and various other incremental improvements and clarifications.

In developing FRED 82, the FRC considered changes to IFRS Accounting Standards, the IASB’s proposed changes in developing the third edition of the IFRS for SMEs Accounting Standard, stakeholder feedback in response to the FRC’s 2021 request for views, and other developments in corporate reporting.

CPA Ireland have submitted their response, details of which can be found here.