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FRC issues revised versions of FRS 100, FRS 101 and FRS 102

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29 Sep 2015

The Financial Reporting Council (FRC) has today issued revised editions of FRS 100, FRS 101 and FRS 102, incorporating recently published amendments; most notably the incorporation of amendments issued in July 2015.

The amended version of FRS 100 Application of Financial Reporting Requirements updates the version issued in November 2012 for the following:

  • the withdrawal of FRS 27 Life Assurance (as set out in FRS 103 Insurance Contracts issued in March 2014);
  • consequential amendments to FRS 102 included in FRS 104 Interim Financial Reporting issued in March 2015;
  • Amendments to FRS 100 issued in July 2015;
  • an editorial amendment to paragraph A2.19 to include a reference to the Strategic Report; and
  • some minor typographical or presentational corrections. 

The amended version of FRS 101 Reduced Disclosure Framework updates the version issued in August 2014 for the following:

  • Amendments to FRS 101 Reduced Disclosure Framework – 2014/15 cycle and other minor amendments issued in July 2015; and
  • some minor typographical or presentational corrections. 

The amended version of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland updates the version issued in August 2014 for the following:

  • an editorial amendment to Section 12 Other Financial Instruments Issues in relation to the examples of hedge accounting issued on 17 September 2014;
  • Amendments to FRS 102 – Pension obligations issued in February 2015;
  • consequential amendments to FRS 102 included in FRS 104 Interim Financial Reporting issued in March 2015;
  • Amendments to FRS 102 – Small entities and other minor amendments issued in July 2015; and
  • some minor typographical or presentational corrections.

The revised versions of the standards are available on the FRC website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.