Statutory guidance

The Companies (Directors’ Remuneration and Audit) (Amendment) Regulations 2025

These regulations were laid before Parliament on 3 April 2025 and are due to come into force on 11 May 2025. The regulations will remove certain over-lapping requirements from the directors’ remuneration reporting framework, and also clarify certain powers of the UK audit regulator.

Documents

Statutory instrument

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Explanatory memorandum

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Guidance note

Details

This statutory tnstrument (SI) will remove certain EU-origin directors’ remuneration reporting requirements on UK listed companies, which overlapped with pre-existing and continuing UK requirements.

A short guidance note covering certain timing and other matters relating to these changes is attached (full details of the changes are set out in the explanatory memorandum).

In respect of the powers of the audit regulator, the regulations clarify certain powers in relation to overseas audits involving non-UK companies and their auditors. They also introduce a discretionary exemption from the prohibition of certain non-audit services. This would be granted in exceptional cases, so that an audit firm providing any such services to a public interest entity will be able to seek to tender for the audit of that entity.

  • sent to sift on: 4 March 2025

  • laid before Parliament on: 3 April 2025

  • sifting status: closed

Updates to this page

Published 5 March 2025
Last updated 23 April 2025 show all updates
  1. Sifting status, explanatory memorandum and statutory instrument documents updated. This Statutory Instrument has now been laid before Parliament and sifting has been closed.

  2. Wording in details section updated to reflect policy position - a discretionary exemption from the prohibition of certain non-audit services would be granted in exceptional cases.

  3. First published.

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