Statutory guidance

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

These regulations will remove certain over-lapping requirements from the directors’ remuneration reporting framework, and also clarify certain powers of the UK audit regulator.

• From: Department for Business and Trade
• Published: 5 March 2025
• Last updated: 14 March 2025 — See all updates

Documents

Statutory instrument sent to sift

PDF, 405 KB, 9 pages

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Explanatory memorandum sent to sift

PDF, 261 KB, 11 pages

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Details

This Statutory Instrument (SI) will remove certain EU-origin directors’ remuneration reporting requirements on UK listed companies, which overlapped with pre-existing and continuing UK requirements. 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: 04 March 2025

• Sifting status: Open

Published 5 March 2025

Last updated 14 March 2025 + show all updates

1. 14 March 2025

   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.

2. 5 March 2025

   First published.