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We comment on FRED 50

  • FRED 50 Draft FRC Abstract 1 Image

17 Nov 2013

We have published our comment letter on Financial Reporting Exposure Draft (FRED) 50: Draft FRC Abstract 1 Residential Management Companies’ Financial Statements and Consequential Amendments to the Financial Reporting Standard for Smaller Entities (FRSSE) (“FRED 50”).

We support the proposals “which we believe appropriately reflect the opinion of legal counsel which has been obtained in accounting for the transactions within RMCs”. 

Further comments and a full response to all questions raised in the invitation to comment are contained within the full comment letter.

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