UK: Company narrative reporting - implementing the new framework

Several statutory instruments relating to company reporting were published today, including the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013, the Companies (Revision of Defective Accounts and Reports) (Amendment) Regulations 2013 and the Companies (Receipt of Accounts and Reports) Regulations 2013. The first of these, through changes to the Companies Act 2006, sets out the new narrative reporting framework for companies, including the obligation to prepare a strategic report (there is, however, an exemption in place for small companies).