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Publication of financial reporting decision – Dalata Hotel Group plc

IAASA has today published a financial reporting decision relating to Dalata Hotel Group plc’s accounting treatment of the proceeds from the sale of residential units as revenue in its 31 December 2022 annual financial statements.

Dalata Hotel Group plc provided voluntarily undertakings that future financial statements would:

  • amend the description of ‘primary activities’ in the directors’ report, identifying some of the other activities that the issuer considers to be part of its ordinary activities, including those related to development activities, and
  • revise the presentation in the Income Statement, including the 2022 comparative amounts, to disclose ‘Income from residential development activities’ and ‘Cost of residential development activities’ separately from ‘Revenue’ and ‘Cost of Sales’.

The financial reporting decision may be accessed here.

IAASA’s policy on publishing financial reporting decisions and the criteria to be met for such decisions to be published is set out in IAASA’s Policy Paper Publication of information regarding IAASA’s financial reporting supervision activities (revised December 2022). Decisions are now published on an individual basis soon after the decision is reached.