FRC consults on annual review of FRS 101
07 Dec, 2022
The Financial Reporting Council (FRC) has published Financial Reporting Exposure Draft 81 'FRS 101 Reduced Disclosure Framework – 2022/23 cycle' (FRED 81) proposing no amendments to FRS 101 ‘Reduced Disclosure Framework’.
Given the nature of the amendments issued by the International Accounting Standards Board (IASB) that have been considered in the review for the 2022/23 cycle, the FRC is not proposing to make any amendments to FRS 101.
Overall, the FRC believes that FRS 101 will continue to have a positive impact on the cost-effectiveness of the preparation of the financial statements
The FRC is requesting comments on FRED 81 by 28 February 2023. A press release and consultation paper are available on the FRC website.
