Amendments to accounting standards – UK exit from the EU and IBOR Phase 2

Regulatory Updates | 21/12/20

The Financial Reporting Council (FRC) has issued amendments to update UK and Republic of Ireland accounting standards for changes in legislation following the UK’s exit from the EU that come into effect at the end of the transition period. The amendments are effective for accounting periods beginning on or after 1 January 2021, with early application permitted.