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Financial Reporting Standards

Navigating accounting standards, regulatory developments and evolving compliance requirements.

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Helping you understand and respond to changes in financial reporting standards

Financial reporting requirements continue to evolve, and keeping pace with change is essential for producing clear, compliant and useful financial statements.

At Crowe UK, our team of Audit specialists provides practical guidance on key accounting standards, reporting requirements and regulatory developments, helping finance teams understand the latest changes, assess their impact and respond with confidence.

Financial reporting resources

Crowe UK's guidance on FRS 100, FRS 101 and FRS 102 provides practical insight into the UK's financial reporting framework

FRS 100 and FRS 101

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FRS 102

Before diving into detailed guidance on individual sections of FRS 102, explore our FRS 102 Overview and Key Changes to understand the key changes to the standard and what they may mean more broadly for financial reporting, accounting processes, and compliance requirements.

Looking for more detail? Explore our guidance on specific areas of the standard below.

Latest accounting developments

Changes to UK GAAP

In March 2024, the Financial Reporting Council (FRC) issued significant amendments to FRS 102 as part of its Periodic Review 2024, aimed at enhancing the quality of financial reporting and aligning UK GAAP more closely with IFRS. 

The amendments apply to all entities reporting under FRS 102, including those applying the small companies regime -Section 1A, where broader disclosure requirements have been introduced. 

The changes are effective for accounting periods beginning on or after 1 January 2026, with early adoption permitted. 

Our latest thinking

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The importance of audit for private equity-backed businesses
Audit can be more than compliance. Learn how it supports value creation, governance and transaction readiness.
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Social Housing SORP
Discover the key updates from the Housing SORP 2026 and what social landlords should prepare for under the revised FRS 102.
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New 2026 pensions SORP published
The 2026 Pensions SORP introduces key reporting updates, including new liquidity risk disclosures.
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FRS 102 changes for Professional Practices
With major FRS 102 changes taking effect from 2026, Professional Practices face meaningful shifts in lease accounting and revenue recognition.
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Better Lease Accounting – understanding FRS 102 and lease accounting for charities and non profits
In September 2024 the FRC published a revised edition of FRS 102. A significant change is to Section 20, Leases, which now aligns with IFRS 16.
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IFRS Disclosures amid the Middle East conflict
Geopolitical risks are shaping financial reporting and increasing transparency expectations.
Leasing under FRS 102
Guiding you through the changes to understand the impact on your accounts.
Identify what action you need to take

Expert support for your financial reporting needs

Our specialists provide practical guidance to help you meet your financial reporting requirements with confidence.

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