FRC consults as part of annual review of FRS 101
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Published: 1 October 2025
The Financial Reporting Council (FRC) has today issued Financial Reporting Exposure Draft (FRED) 88, which proposes no changes to FRS 101 ‘Reduced Disclosure Framework’, as a result of the FRC’s 2025/26 review cycle.
As part of its annual review of FRS 101 ‘Reduced Disclosure Framework’, the FRC has reviewed amendments to IFRS Accounting Standards to assess whether any exemptions or consequential amendments are required as result of changes to IFRS Accounting Standards. While two relevant amendments have been issued by the International Accounting Standards Board (IASB) during this review cycle, the FRC has concluded that existing exemptions in FRS 101 ‘Reduced Disclosure Framework’ remain appropriate to address these changes.
The FRC remains confident that FRS 101’ ‘Reduced Disclosure Framework’ will continue to enable cost-effective financial reporting within groups to reduce reporting burdens, particularly for those applying IFRS Accounting Standards in their consolidated financial statements.
FRED 88 is open for comment until 16 January 2026.