FRED 86 sets out a number of proposals to ensure that FRS 101 will continue to provide cost-effective disclosure reductions for companies applying the standard if they choose not to adopt the new IFRS standards once they are approved for UK use.

The changes are a result of the imminent launch of two brand new IFRS standards on disclosures, IFRS 18 Presentation and Disclosure in Financial Statements, and IFRS 19 Subsidiaries without Public Accountability: Disclosures.