The Financial Reporting Council has introduced major amendments to FRS 102, bringing UK GAAP closer to IFRS and impacting entities across the Channel Islands, the UK and Ireland. This article provides an overview of the key changes and what businesses should be doing to prepare ahead of the 1 January 2026 effective date.

The Financial Reporting Council has introduced major amendments to FRS 102, bringing UK GAAP closer to IFRS and impacting entities across the Channel Islands, the UK and Ireland. This article provides an overview of the key changes and what businesses should be doing to prepare ahead of the 1 January 2026 effective date.

Baker Tilly has been named among TIME’s 2025 list of the World’s Best Companies, recognising organisations that are shaping the future through innovation, performance and purpose.