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Report FRS 102: Major changes to revenue recognitionExplore key changes to FRS 102 Section 23, including the new five-step revenue model and its impact on financial reporting in Ireland and the UK.
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Article Changes to filing options and requirements at Companies HouseFrom April 2027, Companies House will require all UK entities to file digital accounts. Learn what’s changing and how to prepare for the new rules.
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Article FRS 102 periodic review: Small companiesExplore key changes to small company disclosures under FRS 102 Section 1A, including UK GAAP updates on leases, tax, going concern and related parties.
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Article FRS 102 periodic review: Other changesOn 27 March 2024, the Financial Reporting Council issued amendments to FRS 100 – 105 (known as GAAP, or Generally Accepted Accounting Practice), a suite of accounting standards applicable in the UK and Ireland. These are used by an estimated 3.4 million businesses in preparing their financial statements.
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I was part of a roundtable discussion with senior HR professionals in Dublin on Thursday last. Grant Thornton partnered with Inclusio, an Irish company, who are a global leader in helping organisations scientifically measure organisational culture. The Inclusio platform and tool allows organisations to obtain accurate data and real insights to help them understand, track, and measure diversity and inclusion.
One of the key challenges facing many Irish and UK companies is capturing sufficient D&I insights to inform real change in their organisation. Most of them have good intentions to make changes in D&I, but they face challenges due to a lack of rich data, actionable insights, and the necessary metrics to determine and prove progress.
The main challenges reported by companies around collecting D&I data are legal concerns and GDPR, low engagement rates from staff to buy into D&I programmes, and the lack of internal resources and expertise to make sense of D&I data.
It was pleasing to hear how one of the panel, Anne Rush, Global Director of People and Organisation at Linesight was able to collect employee (D&I) data, safely and confidentially, which was then used to effect change across the organisation and boost engagement rates on their D&I programmes.
In our own organisation, our vision is to be the most authentic firm at valuing equity and diversity through everyday inclusion. This then translates into implementing change through strategic initiatives, and creating a better workplace culture. We do this by educating, integrating, and celebrating equity, diversity and inclusion right across our business.
People are at the heart of our business; and our colleagues, who come from varied backgrounds, cultures, ages, gender identities, abilities and family types, present diverse viewpoints, which all need to be valued and heard. This means that we are committed to ensuring that all our colleagues feel that their individuality is embraced and that they feel they can bring their authentic selves to work.
Being able to measure success through data is critical, particularly, as we continue to build and develop on our existing structure and strategy to meet an ever-changing and growing workforce culture. Doing nothing is not an option, it makes good business sense to grow and retain a diverse and inclusive workforce – your colleagues, customers, and key stakeholders demand it
Whether you are at the start of your D&I journey or you are effectively executing your D&I strategy, it is never too late to reflect and evaluate how it is going. If you have data to measure it – then even better. And remember, what’s gets measured gets done.