FRED 79 FRS 101 Reduced Disclosure Framework – 2021/22 cycle


In December 2021, the Financial Reporting Council (FRC) issued Financial Reporting Exposure Draft 79 FRS 101 Reduced Disclosure Framework – 2021/22 cycle (FRED 79). FRED 79 proposes 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 2021/22 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.

Status of the project

In May 2022, the FRC issued Amendments to Basis for Conclusions FRS 101 Reduced Disclosure Framework – 2021/22 cycle which proposed no amendments to the standard as a result of the annual review.

Correction list for hyphenation

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