Financial Reporting

EUROPEAN COMPANY LAW AND CORPORATE GOVERNANCE

Companies (Reduction of Capital Regulations) 2008: draft regulations. (PDF) (link opens in a new window)

Draft regulations amending creditor protection arrangements in the Companies Act to reflect a shift in the burden of proof from the company to the creditor in the case of a reduction in capital.

Co-ordinating group on audit and accounting issues: final report to the Secretary of State for Trade and Industry and the Chancellor of the Exchequer. (PDF) (link opens in a new window)

Final report of the Co-ordinating Group on Audit and Accounting Issues (CGAA), set up by the Secretary of State and the Chancellor in the wake of the collapse of Enron.

Directors' views on accounting and auditing requirements for SMEs. (PDF) (link opens in a new window)

Report of a study to investigate directors' views on current accounting and auditing requirements for small and medium-sized enterprises (SMEs) in UK company law and draft simplification proposals made by the European Commission in July 2007. Also identifies changes in the financial reporting practices of companies that had participated in a previous study which focused on issues relating to raising the audit exemption thresholds.

Extending use of summary financial statements and other minor changes: Summary of responses to consultation. (PDF) (link opens in a new window)

Summary of responses to the consultation document (URN 05/900).

Final regulatory impact assessment on the exercise of member state options in the international accounting standards (IAS) regulation. (PDF) (link opens in a new window)

RIA discusses the costs and benefits of the exercise of member State options in the IAS Regulation.

Final regulatory impact assessment on the use of fair value accounting for certain financial instruments for companies and building societies. (PDF) (link opens in a new window)

RIA for the Companies Act 1985 (international accounting standards and other accounting amendments) Regulations 2004 and the Building Societies (accounts and related provisions) (amendment) Regulations 2004 implementing the Fair Value Directive.

Guidance on changes to the accounting and auditing requirements for certain small financial services companies and LLPs. (PDF) (link opens in a new window)

Guidance, updated November 2007, on the changes to the accounting, reporting and auditing requirement for small companies in the Companies Act 1985, which come into force on 8 November 2006.

Modernisation of accounting directives / IAS infrastructure: a consultation document. (PDF) (link opens in a new window)

Closed consultation. A consultation document on the implementation of the accounting modernisation directive and arrangements for the use of IAS (international accounting standards) for companies and building societies. Small Business summary also available (URN 04/819). Consultation period ended 2 July 2004.

Review of the regulatory regime of the accountancy profession: legislative proposals. Report on the public consultation and the Government's conclusions. (PDF) (link opens in a new window)

Sets out the Government's response to the results of the consultation in March 2003 on legislative proposals to support the new regulatory regime for the accountancy and audit professions.

The registration of companies' security interests (company charges): regulatory impact assessment. (PDF) (link opens in a new window)

This RIA concerns the proposal to reform the law relating to the registration and priority of companies' security interests (commonly called company charges). The primary objective is to facilitate company borrowing for the benefit of both creditors and debtors and hence the whole economy.