FRC consults on annual review of FRS 101
30 November 2020
The FRC has today issued FRED 77 Draft amendments to FRS 101 Reduced Disclosure Framework – 2020/21 cycle
which proposes amendments to FRS 101 as a result of its latest annual review. The annual review aims to ensure that FRS 101 continues to be cost-effective as IFRS, on which it is based, changes.
FRED 77 principally proposes a disclosure exemption in relation to IAS 16 Property, Plant and Equipment.
Other minor amendments are also proposed as a consequence of changes to IAS 1 Presentation of Financial Statements
Comments should be provided by 28 February 2021.