Thank you for sharing!

Your article was successfully shared with the contacts you provided.

International financial reporting standards (IFRSs) have begun to influence the accounts of UK limited liability partnerships (LLPs), even those that continue to follow UK accounting standards for the preparation of their accounts. Why? Because UK accounting standards are being updated to ‘converge’ with IFRSs and one such convergence issue has been introduced via FRS25: financial instruments disclosure and presentation. This in turn has required a revision of the LLP statement of recommended practice, which provides specific guidance for applying UK accounting standards to LLPs.

This premium content is reserved for
Legal Week Subscribers.


  • Trusted insight, news and analysis from the UK and across the globe
  • Connections to senior business lawyers within the leading law firms and legal departments
  • Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
  • The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
  • Optimized access on all of your devices: desktop, tablet and mobile
  • Complete access to the site's full archive of more than 56,000 articles

Already have an account?

For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651


Legal Week Newsletters & Alerts

Sign Up Today and Never Miss Another Story.

As part of your subscription, you can sign up for an unlimited number of a wide range of complimentary newsletters and alerts. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2019 American Lawyer Media International, LLC. All Rights Reserved.