We comment on FRED 85 — Draft amendments to FRS 101 Reduced Disclosure Framework 2023/24 cycle
06 Feb, 2024
We have published our comment letter on Financial Reporting Exposure Draft (FRED) 85 'Draft amendments to FRS 101 Reduced Disclosure Framework 2023/24 cycle'.
We welcome the opportunity to respond to FRED 85.
We support the Financial Reporting Council’s (FRC's) overall approach that proposes only minor amendments to FRS 101 for consistency with IAS 1 Presentation of Financial Statements. However, we believe that the disclosures from Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7) will also be relevant to the users of a qualifying entity and we propose to expand the scope of these requirements to those entities as well, unless equivalent disclosures are included in the consolidated financial statements of the group in which the entity is consolidated.
Our full comment letter is available here.
