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New FRC factsheet on FRS 102 for PBEs

30 October 2026      Joni Rhodes, Deputy Executive Director

The Financial Reporting Council has released a new factsheet to help those applying FRS 102 in Public Benefit Entities (PBEs). The factsheet discusses the role of Statements of Recommended Practice (SORPs), and summarises "the ways in which PBEs, including but not limited to charities, have been considered by the FRC in developing the extant UK and Ireland financial reporting standards."

The factsheet outlines the newly launched International Non-Profit Standard (INPAS) but explicitly confirms it has no direct impact on UK HEPs, and that FRS 102 and the FE/HE SORP remain the sole authoritative standards.



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