FRED 57: Draft amendments to FRS 101 'Reduced Disclosure Framework' (2014/15)


When it issued FRS 101 Reduced Disclosure Framework in November 2012, the Financial Reporting Council (FRC) committed to review the standard on an annual basis and update it to ensure that it maintains consistency with IFRSs and remains cost-effective for groups.  The amendments represent the second of these annual updates, following the 2013/2014 amendments. 

Project milestones

An exposure draft of the 2014/15 amendments (FRED 57) was published in December 2014 with a comment period until 20 March 2015.

The main changes proposed by the FRC are to allow exemptions from the disclosure requirements of:

Current status of the project

Amendments to FRS 101 which incorporated these changes into the standard were published in July 2015.

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.