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Removal of Financial Reports from EPBCS

We recently received a notification on the EPM Cloud interface regarding the removal of Financial Reports (FR) in June 2025. Oracle will be replacing FR with Reports, requiring all FR reports to be migrated. Would appreciate any guidance/documentation on following:

1. Will FR reports remain accessible after June 2025, considering that all our reports are currently built in FR Studio?

2. Does it allow impact analysis to check if the reports are okay to migrate or they need some modifications to be able to identical with original FR reports.

3. Is it mandatory for everyone to migrate FR reports to Reports, or is there an option to opt out? If opting out is possible, what are the potential implications?

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