Amendments have been made to the standard to improve the consistency of the disclosure exemptions in relation to the statement of cash flows and related disclosures.

The amendments to FRS 101 provide an exemption from the disclosure of cash flows required by paragraph 24(b) of IFRS 6 Exploration for and Evaluation of Mineral Resources. A similar amendment has been made to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland for qualifying entities.

An amendment has also been made to the exemption from paragraph 33(c) of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, removing the condition that this exemption is only available when equivalent disclosures are made in the relevant consolidated financial statements of the group in which the entity is consolidated. This is for consistency with the exemption from the presentation of a statement of cash flows.

A press release and the amendments are available on the FRC website.