FRC concludes annual review of FRS 101
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Published: 21 May 2026
The Financial Reporting Council (FRC) has today issued ‘Amendments to FRS 101 Reduced Disclosure Framework – 2025/26 cycle’, which brings to a close the latest annual review of FRS 101 ‘Reduced Disclosure Framework’.
FRS 101 is an optional reduced disclosure framework available to qualifying entities and is intended to enable cost-effective financial reporting within groups, particularly those applying IFRS Accounting Standards in their consolidated financial statements. FRS 101 plays an important role in supporting entities to deliver proportionate financial reporting, utilising a framework appropriate to users’ information needs.
The FRC consulted on the 2025/26 annual review cycle of FRS 101 in Financial Reporting Exposure Draft (FRED) 88, which proposed no amendments after considering the developments in IFRS Accounting Standards during the relevant year. Concluding its annual review cycle, the final amendments align with the FRED 88 proposals, making no changes to FRS 101 in respect of new IFRS pronouncements. Limited drafting changes are however made to improve clarity and better articulate certain aspects of FRS 101, and for consistency with ‘Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and FRS 105 The Financial Reporting Standard applicable to the Micro‑entities Regime – Adapted formats’ (issued in February 2026).
Read ‘Amendments to FRS 101 Reduced Disclosure Framework – 2025/26 cycle’