The FRS 102, the proposed new financial reporting standard applicable to all organisations in the UK and Republic of Ireland, will be published in mid-February - not January as previously announced.

The Financial Reporting Council (FRC) has confirmed the delay to civilsociety.co.uk, which is understood to have arisen in order for it to incorporate further amendments to the FRS, relating to multi-employer defined benefit pension plans and grantors of service concession arrangements – both of which it recently consulted upon.

The FRC also stressed that the delay will not affect the overall timetable and that implementation of new international-style accounting rules will still occur from 1 January 2015.