New Financial Reporting Requirements For Large Private Companies

The BEIS published a green paper in November 2016, reporting on corporate governance reform. In its response to the report, the government identified 9 proposals for reform to take forward. On 22 September 2017, the government stated its intention to introduce secondary legislation to require all companies of significant size (private as well as public) to explain how their directors have had regard to the employee and other non-shareholder interests set out in section 172 of the Companies Act 2006 (CA 06). On 11 June 2018 draft legislation: Companies (Miscellaneous Reporting) Regulations 2018 (2018 Regulations) was laid before Parliament.

Read more here New Financial Reporting Requirements For Large Private Companies

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