---
title: "Research on preparers' use of FRS 101 Reduced Disclosure Framework"
ocid: "ocds-b5fd17-96eb0274-aa11-4337-bc3c-f23b34a04ecd"
canonical_url: "https://d3tenders.com/contract/?ocid=ocds-b5fd17-96eb0274-aa11-4337-bc3c-f23b34a04ecd"
markdown_url: "https://d3tenders.com/contract/ocds-b5fd17-96eb0274-aa11-4337-bc3c-f23b34a04ecd.md"
json_url: "https://d3tenders.com/contract/ocds-b5fd17-96eb0274-aa11-4337-bc3c-f23b34a04ecd.json"
source: "Contracts Finder"
current_stage: "Award"
buyer: "THE FINANCIAL REPORTING COUNCIL LIMITED"
published: "2024-05-17"
---

# Research on preparers' use of FRS 101 Reduced Disclosure Framework

Buyer: THE FINANCIAL REPORTING COUNCIL LIMITED  
Current stage: Award  
OCID: ocds-b5fd17-96eb0274-aa11-4337-bc3c-f23b34a04ecd

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## Summary

The Financial Reporting Council (FRC) has awarded a contract for a research project titled "Research on preparers' use of FRS 101 Reduced Disclosure Framework" to CM Monitor (Britain Thinks) Ltd. The project aims to collect data from UK companies regarding their use of the UK accounting standard FRS 101. The contract, valued at £56,500, has a start date of May 20, 2024, and an end date of September 30, 2024. The procurement method used was an open procedure below the threshold.

This tender offers business growth opportunities for research and development services providers and consultancy firms interested in the financial reporting sector. Small and medium-sized enterprises (SMEs) and voluntary, community, and social enterprise (VCSE) organisations are well-suited to compete for this opportunity. The tender, issued by the FRC, focuses on engaging with UK-listed groups and aims to understand their use of the FRS 101 accounting standard, providing insightful data for further regulatory decisions by the FRC.

## Notice

THIS IS A CONTRACT AWARD NOTICE - THIS TENDER HAS BEEN COMPLETED/AWARDED. The Financial Reporting Council (FRC) regulates auditors, accountants and actuaries and sets the UK's Corporate Governance and Stewardship Codes. The FRC is also a prescribed body for issuing accounting standards in the UK and Republic of Ireland. The FRC's overriding objective in setting accounting standards is to enable users of accounts to receive high-quality, understandable financial reporting proportionate to the size and complexity of the entity and users' information needs. This research project will engage with UK companies to gather data about their use of a particular UK accounting standard: FRS 101 Reduced Disclosure Framework. However, the project will not require the successful contractor to have specialist knowledge of accounting. PURPOSE AND OBJECTIVES (1) Groups applying FRS 101 The research will collect information from groups of companies that have chosen to apply FRS 101 in the preparation of UK qualifying entities' financial statements. For these groups, below is a snapshot of what we would like to know: a) the most significant reasons for preparers' choice to apply FRS 101 to the financial statements of qualifying group entities, and who (i.e. which job function) made this decision; b) which of the FRS 101 disclosure exemptions preparers consider to be useful, less useful, and why; (2) UK listed groups not applying FRS 101 The research will also engage with UK listed groups that could have chosen to apply FRS 101 in the preparation of qualifying entities' financial statements but did not do so. For these groups, below is a snapshot of what we would like to know: a) the most significant reasons why UK listed groups choose not to apply FRS 101, and who (which job function) makes this decision; b) what, if any, changes to FRS 101 would make these preparers likely to consider applying FRS 101 in the future and why these changes would be beneficial; and The research will identify prevalent views and concerns of UK listed groups. It should therefore include a sufficient number of participants of each type to ensure that prevalent views are identified. The FRC will consider significant matters identified by the research in more detail and may seek further evidence through its own stakeholder consultation and outreach activities. The research population will be UK groups listed on the London Stock Exchange Main Market (LSE MM - comprising FTSE 100 and FTSE 250 constituents, plus smaller main market listed entities) and the London Stock Exchange Alternative Investment Market (LSE AIM). In total this is expected to be approximately 2,000 groups. The FRC would like to collect information from across this population. Additional information: THIS IS A CONTRACT AWARD NOTICE - THIS TENDER HAS BEEN COMPLETED/AWARDED.

## Key Details

| Field | Value |
| --- | --- |
| Publication source | Contracts Finder |
| Latest notice | https://www.contractsfinder.service.gov.uk/Notice/fc6ce8dd-7cf6-41ec-888f-7cce09d77533 |
| Notice type | Award Notice |
| Procurement type | Standard |
| Procurement category | Services |
| Procurement method | Open |
| Procurement method details | Open procedure (below threshold) |
| Tender suitability | SME, VCSE |
| Awardee scale | SME |
| All stages | Tender, Award |

## Dates

| Field | Value |
| --- | --- |
| Publication date | 17 May 2024 |
| Submission deadline | 11 Apr 2024 |
| Future notice date | Not specified |
| Award date | 16 May 2024 |
| Contract period | 19 May 2024 - 30 Sep 2024 |
| Recurrence | Not specified |

## Values

| Field | Value |
| --- | --- |
| Tender value | £42,000 |
| Lots value | Not specified |
| Awards value | £56,500 |
| Contracts value | Not specified |

## Status

| Field | Value |
| --- | --- |
| Tender status | Complete |
| Lots status | Not specified |
| Awards status | Active |
| Contracts status | Not specified |

## Buyer

| Field | Value |
| --- | --- |
| Main buyer | THE FINANCIAL REPORTING COUNCIL LIMITED |
| Locality | LONDON |
| Post town | Central London |
| Postcode | EC2Y 5AS |
| Country | England |
| ITL 1 | TLI London |
| ITL 2 | TLI3 Inner London - West |
| ITL 3 | TLI35 Westminster and City of London |
| Local authority | City of London |
| Electoral ward | Bassishaw |
| Westminster constituency | Cities of London and Westminster |
| Delivery location | Not specified |

## Supplier

| Field | Value |
| --- | --- |
| Number of suppliers | 1 |
| Supplier names | CM MONITOR (BRITAIN THINKS) LTD T/A THINKS INSIGHT & STRATEG |

## CPV Codes

### Divisions

- 73 - Research and development services and related consultancy services

### Codes

- 73000000 - Research and development services and related consultancy services

## Release History

- 17 May 2024 at 17:53 - Award - Award Notice - https://www.contractsfinder.service.gov.uk/Notice/fc6ce8dd-7cf6-41ec-888f-7cce09d77533
- 19 Mar 2024 at 14:17 - Tender - Tender Notice - https://www.contractsfinder.service.gov.uk/Notice/f0dffd0b-9a8b-4acd-a28f-a48bec3cab2d

## Documents

- https://www.contractsfinder.service.gov.uk/Notice/fc6ce8dd-7cf6-41ec-888f-7cce09d77533
  17th May 2024 - Awarded contract notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/f0dffd0b-9a8b-4acd-a28f-a48bec3cab2d
  19th March 2024 - Opportunity notice on Contracts Finder
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/11fd23ca-fc8a-4c29-9e6b-80b825b31d06
- https://www.contractsfinder.service.gov.uk/Notice/Attachment/8c99c585-80f9-4a67-8973-1a3fd4832f10

## Notice URLs

- http://www.frc.org.uk

## Provenance

This Markdown file is an alternate public rendering of the D3 Tenders contract record. The canonical page is https://d3tenders.com/contract/?ocid=ocds-b5fd17-96eb0274-aa11-4337-bc3c-f23b34a04ecd. The underlying structured data is available as OCDS JSON at https://d3tenders.com/contract/ocds-b5fd17-96eb0274-aa11-4337-bc3c-f23b34a04ecd.json.