FRS 102: The importance of assessing potential impacts

Author: John Morris, James Kirk (

Categories: Business risk, Financial Reporting
Tags: FRS 102

I think it will vary depending on the type of organisation you are.

The complexity will depend on how complex an organisation you are yourself, how many subsidiaries you have, you know, whether you’ve recently done any mergers or acquisitions.  So it will depend from organisation to organisation.  The key thing is to really understand what the potential impact may be.

And that has to start somewhere, so one of the things we look at is, and we talk about is a readiness assessment which looks at how ready you are as an organisation to implement the changes associated with FRS 102, whether you have the right volume of resource to do that, whether you have the right type of resource in terms of the technical ability and actually indeed whether you have the time and the focus to really invest what is required to ensure a seamless and efficient implementation.

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