www.pwc.ie
Replacing Irish
GAAP
Reporting Impact
Assessments for FRS
101, FRS 102 and
IFRS
Showing you
where a change
of reporting
standard may
impact your
Irish GAAP
financial
statements
March 2015
Replacing Irish GAAP
The FRC has issued FRSs 100, 101 and 102, which set out the choice of accounting
framework applicable in the Republic of Ireland, replacing existing Irish GAAP
standards. Our FRS 101, FRS 102 and IFRS Reporting Impact Assessments are a
practical response to help you understand the potential effects
of the new standards on your financial statements.
The challenge
1
You apply Irish
GAAP for at least
some of your
entity accounts
Accounts
prep
ul
you must move away
from Irish GAAP.
re are f
3
1 1
Full IFRS
1
You want to find out how
transitioning from old
Irish GAAP would affect
you financial statements
but would prefer not top
begin by trawling through
hundreds of pages...
4
Stat
Accou
nts
You ask for your most recent Irish
GAAP financial statements to be
used as the basis for a Reporting
Impact Assessment.
Our expert knowledge of IFRS, FRS 101
and FRS 102 helps you to consider how
one of the new standards would have
affected your financial statements.
know-how
We offer this service for
FRS 101, FRS 102 or IFRS
5
We produce your Reporting
Impact Assessment
Reporting Impact
Assessment
1
Impact
Assessment
1
2
2
3
3
The Reporting Impact
en shows your
Assessment
financial statements on the
left and comments, where
le, on the right
6
act
Imp
ing
ort ent
Rep essm
Ass
…then delivers the work
and discusses it with you
Your engagement team does
the final quality review…
7
You use the reporting
impact assessment…
…to focus adoption efforts…
Reporting Impact
Assessment
1
1
2
…future
plans…
2
…and to plan how you
will transition away
from Irish GAAP
3
3
If you would like further information, please speak with your usual engagement team, or
alternatively contact one of our team. Our details are on the next page.
Contacts
Irene O’Keeffe
[email protected]
Damian Ruttledge
[email protected]
www.pwc.ie
This content is for general information purposes only, and should not be used as a substitute for
consultation with professional advisors.
© 2015 PricewaterhouseCoopers. All rights reserved. PwC refers to the PwC network and/or one
or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/
structure for further details. 04855/04794