1 minute read 17 Feb 2021
EY Ireland Financial reporting update March 2019

EY Ireland Financial reporting update March 2019

By George Deegan

EY Ireland Assurance Partner

Proven abilities in financial reporting, accounting and internal controls

1 minute read 17 Feb 2021

Assurance - simplifying complexity for our clients

At EY we strive to simplify complex accounting and reporting requirements for our clients. With that in mind, this publication brings together the significant changes in accounting standards, legal and regulatory requirements, as well as key enablers, to help you respond to the changing landscape. 

In this edition, we discuss recent IFRS updates including, among other things: 

• the IASB’s amendments to the definition of ‘material’ in IAS 1 Presentation of financial statements and IAS 8 Accounting policies, changes in accounting estimates and errors  

• amendments to the definition of ‘business’ in IFRS 3 Business Combinations 

• the proposal to defer the effective date of IFRS 17 Insurance Contracts  

• we note that IFRS 16 we note IFRS 16 Leases is now effective for accounting periods beginning on or after 1 January 2019.  

From an Irish GAAP perspective, we also provide some reminders on the key amendments to FRS 102 arising from the FRC’s December 2017 Triennial Review, which are effective for accounting periods beginning on or after 1 January 2019.  

We also highlight some of the findings and publications of the accounting regulators, including Irish Auditing & Accounting Supervisory Authority, the UK’s Financial Reporting Council and the European Securities and Markets Authority.

Contents:  

Section 1: International Financial Reporting Standards 

Section 2: Irish Generally Accepted Accounting Practice  

Section 3: Corporate Governance 

Section 4: Irish company law 

For more information, access the full report here. 

Summary

This publication brings together significant changes in accounting standards and legal & regulatory requirements to help you respond to a changing landscape.

About this article

By George Deegan

EY Ireland Assurance Partner

Proven abilities in financial reporting, accounting and internal controls