Deloitte comment letter on FRED 57 ‘Draft amendments to FRS 101 'Reduced Disclosure Framework' (2014/15)’

Published on: 11 Mar, 2015

We have published our comment letter on the Financial Reporting Council’s (FRC’s) Financial Reporting Exposure Draft (FRED) 57 'Draft amendments to FRS 101 Reduced Disclosure Framework (2014/15)’.

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

We are supportive of the proposals and note that the amendment in FRED 57 to allow exemption from presenting an opening statement of financial position on transition to FRS 101 is very useful to preparers.  In light of this we strongly encourage the FRC to finalise the amendments within FRED 57 as soon as possible.

Further comments and a full response to all questions raised in the invitation to comment are contained within the full comment letter which can be downloaded below.


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