FRED 81 'FRS 101 Reduced Disclosure Framework – 2022/23 cycle'


In December 2022, the Financial Reporting Council (FRC) issued Financial Reporting Exposure Draft 81 'FRS 101 Reduced Disclosure Framework – 2022/23 cycle' (FRED 81).  FRED 81 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 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.

Status of the project

In May 2023, the FRC issued Amendments to Basis for Conclusions FRS 101 Reduced Disclosure Framework – 2022/23 cycle, which brings to a close the 2022/23 annual review of FRS 101.  No amendments have been made to FRS 101 as a result of this review.

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.