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

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