News December 2016 FRC removes requirement to notify shareholders from FRS 101 and FRS 102 and consults on FRED 66

FRC removes requirement to notify shareholders from FRS 101 and FRS 102 and consults on FRED 66

13 December 2016
The Financial Reporting Council (FRC) has today issued Amendments to FRS 101 and FRS 102 - Notification of shareholders which, following an earlier consultation, removes the requirement to notify shareholders before taking advantage of the disclosure exemptions available in those standards.  An accompanying Impact Assessment and Feedback Statement is also available.

In addition, the FRC has issued FRED 66 Draft amendments to FRS 101 - 2016/17 cycle proposing limited amendments to FRS 101 as a result of its latest annual review, which primarily considered IFRS 16 Leases.  Comments on FRED 66 are requested by 31 March 2017.

Amendments to FRS 101: Reduced Disclosure Framework and FRS 102: The Financial Reporting Standard ap

Impact Assessment and Feedback Statement: Amendments to FRS 101 and 102

FRED 66: Draft Amendments to FRS 101 Reduced Disclosure Framework - 2016/17 Cycle