Technical Report – Accounting – Feb 2012

Future of Irish GAAP – Latest proposal

The Accounting Standards Board published its most recent proposals on the future shape and direction of Irish GAAP earlier in the week. While less radical than previous drafts, it does contain a number of mandatory changes as well as some optional elections that may serve to simplify the traditional corporate financial reporting structure.

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This members’ update is for general information only and should not be regarded as a substitute for tax, legal or other professional advice. Such advice should be taken before acting on or taking steps in relation to matters referred to in this document.

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