This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

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.


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.