Impact assessment

Non-financial reporting review: impact assessment

Impact assessment (IA) appraising measures to reform the non-financial reporting framework which will be implemented through secondary legislation.

• From: Department for Business and Trade
• Published: 19 March 2024

This was published under the 2022 to 2024 Sunak Conservative government

Documents

The Companies (Non-financial Reporting) (Amendment) Regulations 2024: impact assessment

PDF, 1.17 MB, 79 pages

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Details

This IA appraises several measures in respect of the non-financial reporting review including amendments to:

• streamline reporting requirements and to provide greater clarity within UK legislation, removing requirements for information deemed to be of low value
• uplift Companies Act 2006 size thresholds to reflect historical and future inflation and reduce regulatory burdens on business
• improve the accessibility of information and reduce regulatory burdens on business by enabling annual reports to be shared digitally with members in the first instance
• make technical corrections to the audit regulatory framework

Published 19 March 2024