The FRS Process

The FRS Process – Graphical Representation

The FRS Process – Steps

You provide information to FRS (trial balances and client disclosure document)
FRS prepares the annual or interim financial report
FRS sends you the draft annual or interim financial report *
You review the draft annual or interim financial report and provide any tax or audit adjustments back to FRS * #
FRS produces the final annual or interim financial report

* Typically there are four drafts for a general purpose financial report: preliminary, issued prior to year end audit, issued after audit adjustments and issued after tax adjustments.

# FRS can liaise directly with your auditors to ensure auditor amendments are appropriately processed.