For many Irish sport’s governing bodies, membership fees, sponsorship income, competition entry fees, and education programmes form the backbone of annual revenue. However, from accounting periods beginning on or after 1 January 2026, the revised Section 23 of FRS 102 will introduce a fundamentally different approach to how much of that income can be recognised and, crucially, when it can be recognised.
OSK is the official Audit and Accounting partner of the Federation of Irish Sport (FIS) and the preferred supplier of these services to the Federation’s members. Deirdre McDermott Audit Partner – OSK has brought the below key points to our attention and also shared a detailed article via the link below on this matter. I am sharing it with you for your information and if you need advice on the above changes or in relation OSK’s audit and accountancy services please contact us today for a direct introduction.
For Irish National Governing Bodies (NGBs), sporting charities, and representative associations with a 31 December year-end, the first financial statements impacted will be those for the year ending 31 December 2026. Organisations should begin reviewing contracts, membership arrangements, and sponsorship agreements now to understand where changes may be required and to avoid unexpected adjustments during the audit process.
Key Changes
- Revised Section 23 of FRS 102 applies to accounting periods beginning on or after 1 January 2026.
- The new rules focus on when services are delivered rather than when cash is received.
- Membership subscriptions, affiliation fees and sponsorship agreements are likely to require the greatest attention.
- Many organisations may see increased deferred income balances at year-end.
- Early contract reviews during 2026 can reduce audit issues and unexpected accounting adjustments.
Why Does This Matter?
Many sports organisations receive income from a variety of sources, including:
- Membership subscriptions
- Club affiliation fees
- Competition entry fees
- Sponsorship agreements
- Commercial partnerships
- Coach education programmes
- Event income
- Broadcasting rights
- Licensing arrangements
See below link for article and attached graphic for article.
New Revenue Recognition Rules Under FRS 102: What Irish Sports Governing Bodies Need to Know for 31 December 2026