Briefing

Investment funds Fair Value Hierarchy under FRS 102

John Glennon John Glennon

As of 1 January 2015 UK and Irish GAAP has been replaced by FRS 102, a new accounting standard largely based on IFRS for SME’s. Thus it is inevitable that there will be amendments required to the financial statements of funds previously prepared under UK and Irish GAAP.

The purpose of this paper is to assist preparers of financial statements in ascertaining which classification relevant investments will fall within the fair value hierarchy under FRS 102.

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