FRC Launches SME Discussion Forum for FRS 102 Preparers

FRC launches SME discussion forum for FRS 102 preparers

News types: Codes and Standards Announcements

Published: 13 April 2026

As part of its ongoing work to support the proportionate application of audit and reporting standards across the small and medium-sized enterprise (SME) market, the FRC has launched a new discussion forum for stakeholders to share and discuss insights from applying FRS 102.

SMEs make up over 99 percent of the over 1.5 million entities reporting in line with FRS 102 [1] and are vital to economic growth and job creation. This forum will provide an opportunity for industry colleagues, including SME preparers and those providing accounting or auditing services to SMEs, to engage with members of the FRC’s policy team responsible for setting and updating the standard.

The discussion forum will complement existing stakeholder engagement activities across the broad cross-section of UK and Ireland preparers applying UK and Ireland accounting standards.

The discussion forum will meet online twice yearly to discuss:

• Feedback from applying FRS 102 in practice, highlighting any topical issues; and
• FRC consultations on updates to UK and Ireland accounting standards. For example, discussions could focus on implementing the Periodic Review 2024 amendments, effective for accounting periods beginning on or after 1 January 2026.

If you’re interested in joining the first cohort of discussions, please contact [email protected] by Friday 8 May. Places may be limited.

For an explanation of how we process personal information in relation to our stakeholder activities, please read our Stakeholder Engagement Privacy Notice.

Footnotes

1. [1] FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland

Explore the topics

• Codes and Standards Announcements