UITF Abstract 22 The Acquisition of a Lloyd's Business
Issued June 1998. Effective accounting periods ending on or after 23 December 1998. Amended by editor’s notes for references to Companies Act 2006 from 6 April 2008.
UITF Abstract 22 has been superseded by FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland for accounting periods beginning on or after 1 January 2015. For more information visit:
Synopsis
On the acquisition of a Lloyd’s managing agent the identifiable assets and liabilities to be recognised include all profit commissions receivable in respect of periods before the acquisition.
Last updated 21 June 2015
