• Mercia Blog FRS 102 A Stable Future

    FRS 102 – A stable future?

    It seemed possible for a while that there would be significant changes soon to FRS 102 in respect of revenue, leases and financial instruments. But a new statement from the FRC has confirmed that these plans are now deferred, so preparers can look forward to a period of stability.

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  • ISQC 1 Accounting Auditing

    Proposals to simplify FRS 102

    On 23 March 2017, the Financial Reporting Council (FRC) issued FRED 67 containing draft amendments to FRS 102 and other new UK GAAP standards.  In this blog post, we consider some of the main proposals. FRED 67 Draft Amendments to FRS 102 There is much to like in these proposals, although you may receive news […]

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  • Handshake LLP SORP Mercia Blog

    Changes to LLPs and SORP

    January 2017 saw the issue of the final version of the new LLP SORP which is the final piece in the jigsaw for the new reporting regime in respect of LLPs. Recent UK GAAP changes include the withdrawal of the FRSSE and revisions to FRS 102 along with the extension of the micro-entity reporting regime […]

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  • Mercia Blog Audit FRS 105

    Q&A – Section 1A and FRS 105 disclosure

    As businesses start to prepare their first sets of accounts under the new UK GAAP for small and micro-entities we summarise our views on some of the common disclosure questions that arise.  We will keep this post updated as we receive further enquires through our technical support service.

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  • Mercia Audit 2017

    Do you still need an audit? 2016 and beyond…

    Changes to company and LLP law effective for periods commencing on or after 1 January 2016 allow many more businesses to claim exemption from audit. Here’s a quick reminder of the headline changes. Overview Small companies’ (and LLPs’) audit exemption criteria are principally driven by size thresholds and other qualifying criteria defined in law. For […]

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  • CASS Audit Assurance Standard

    FCA CASS Assurance Standard: Are you ready?

    We’re now comfortably into 2017, and if you are involved in client asset (CASS) audits for FCA firms such as insurance brokers, asset managers and stockbrokers, you need to prepare for changes to the way in which you conduct these assurance engagements. New rules for CASS audits come into force by the beginning of May 2017.

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