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Modernising corporate reporting: log in to have your say

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Published: 16 Sep 2026 Update History

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Please log in to share your views: The government has launched a consultation on the future of the UK's corporate reporting framework. ICAEW would like to understand members' views on the issues being considered to inform our response.

The government's consultation on modernising corporate reporting seeks views on a range of proposals, including:

  • the purpose of annual reports;
  • financial reporting requirements
  • narrative reporting obligations; and
  • reporting and audit exemptions.

ICAEW wants to understand members' views on the issues to inform our engagement with the consultation.

For each question, please select the response that best reflects your view.

About you

Which of the following best describes your primary role?

What size of organisation do you primarily work with or in?

What is the purpose of the annual report?

1. What do you think the purpose of the annual report should be?
2. Should the purpose of reporting be the same for publicly listed companies and private companies?

Does the UK have the right accounting framework?

3. Do you support or oppose accounting standards becoming the single source of detailed financial reporting obligations (rather than some detail being in company legislation)?
4. Do you support or oppose changes that would allow medium-sized companies access to the same reporting exemptions as small companies?
5. Should audit requirements for medium-sized companies remain mandatory or become optional?

6. The government is proposing changing the number of accounting standards available in the UK to four main standards:
1. UK-adopted International Accounting Standards
2. UK GAAP for large companies
3. UK GAAP for SMEs
4. UK GAAP for micro-entities

Do you support or oppose this approach?

7. Which of the following accounting standards do you support retaining within UK GAAP? (select all that apply)
8. Should entities continue to have the option of applying an accounting regime applicable to a larger size category, where permitted under the reporting framework?
9. Do you support or oppose moving to a solvency model for determining the legality of dividends?

What information should different entities report?

10. For strategic reporting, do you support or oppose a principles-based legislative framework setting out a baseline for reporting requirements?
11. Which of the following areas should form part of that baseline for strategic reporting? (select all that apply)

12. Do you support or oppose creating a new category of “very large” companies for certain non-financial reporting requirements?
13. Which types of companies should be required to provide baseline strategic reporting?

Corporate governance and remuneration reporting

14. Do you support or oppose moving corporate governance reporting from company level to group level?
15. Do you support or oppose removing the shareholders’ annual advisory vote on the directors’ remuneration report?

Corporate reporting in the digital age

16. Do you support or oppose, where there is shareholder consent, permitting a virtual location to be considered “a place” in relation to AGMs and other meetings?

Using your personal information

The protection of personal privacy is an important concern to ICAEW. Any personal data collected will be treated in accordance with current data protection legislation. For more information about our data protection policy please go to icaew.com/dataprotection

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