The Department for Business and Trade has published a call for evidence as part of the UK government’s review of the corporate governance framework in the UK. The consultation will consider the various requirements for companies to include non-financial results in their annual report. Closing on 16 August 2023, the consultation covers the range of non-financial requirements in Companies Act 2006 Part 15 (and equivalent for LLPs) and invites stakeholders to comment on any other reporting requirements. The government is looking particularly closely at the cost vs benefit of providing non-financial information and how the reporting regime could be streamlined, including whether the existing company size thresholds (determining which reporting requirements apply) should be simplified, as the call for evidence document notes:
‘At this stage, the government is asking companies, accounting firms, financial market participants, and other stakeholders open questions about the costs and benefits of producing non-financial information, the value of information produced, and how the non-financial reporting regime might be improved in future’.
The Department for Business and Trade has published a call for evidence as part of the UK government’s review of the corporate governance framework in the UK. The consultation will consider the various requirements for companies to include non-financial results in their annual report. Closing on 16 August 2023, the consultation covers the range of non-financial requirements in Companies Act 2006 Part 15 (and equivalent for LLPs) and invites stakeholders to comment on any other reporting requirements. The government is looking particularly closely at the cost vs benefit of providing non-financial information and how the reporting regime could be streamlined, including whether the existing company size thresholds (determining which reporting requirements apply) should be simplified, as the call for evidence document notes:
‘At this stage, the government is asking companies, accounting firms, financial market participants, and other stakeholders open questions about the costs and benefits of producing non-financial information, the value of information produced, and how the non-financial reporting regime might be improved in future’.
