As part of its drive to have ‘smarter regulation to grow the economy’, the Department for Business and Trade (DBT) and the Financial Reporting Council (FRC) are conducting a review of the non-financial reporting requirements UK companies currently need to comply with. As part of that review, the DBT has launched a call for evidence on the following non-financial reporting requirements for companies:
- The Strategic Report, which is a reporting requirement on all companies that do not qualify as ‘small’, which is designed to explain how the directors of the company have performed their duty to promote the success of the company;
- The Directors’ Report, which is a reporting requirement on all companies (but with requirements that vary according to the size of the company) that must include a wide range of other statutory information that is not strategic in nature; and
- Other reporting requirements which sit outside the Companies Act 2006, including gender pay gap reporting and modern slavery statements.
For further information, please contact:
Fiona McLellan, Partner, Hill Dickinson
fiona.mclellan@hilldickinson.com
