Impact assessment

Non-financial reporting review: impact assessment (revised)

Updated 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: 15 October 2024

Documents

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

PDF, 1020 KB, 73 pages

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RPC opinion: The Companies (Non-Financial Reporting) (Amendment) Regulations 2024

PDF, 173 KB, 7 pages

Details

This Impact Assessment (IA) replaces a version published on 19 March 2024. This version includes several updates to the analysis, including changes to the method to estimate the number of companies likely to benefit from raised company size definition thresholds.

The Regulatory Policy Committee (RPC) opinion for this IA is also provided on this page.

The government’s intention to introduce the measures set out in this IA was announced on 14 October 2024. The measures will:

• streamline reporting requirements and 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
• make technical corrections to the audit regulatory framework

Published 15 October 2024