Financial reporting obligations of a company and its directors
Financial reporting obligations of a company and its directors

The following Corporate guidance note provides comprehensive and up to date legal information covering:

  • Financial reporting obligations of a company and its directors
  • Brexit impact
  • Preparing the accounts and reports
  • Approval and signing of accounts and reports
  • Publication and laying of annual accounts and reports
  • Filing of accounts and reports
  • Failure to file accounts and reports
  • False or misleading statements
  • Unlimited companies’ exemption from obligation to file accounts

A company has many obligations in relation to accounts and reports under the Companies Act 2006 (CA 2006), as do a company's directors: this Practice Note focuses on those that apply to all companies. Other specific obligations in the CA 2006 relating to accounts and reports will vary according to whether the company qualifies as small, medium-sized, quoted or unquoted. In relation to these specific obligations and for further information on when they apply, see Practice Notes: The small companies regime, The medium-sized companies regime, The quoted companies regime and The unquoted companies regime.

For an overview of the statutory reporting regime itself, see Practice Notes: Accounts and reports—an outline of the statutory framework and Accounts and reports—individual and group accounts.

Other requirements will apply, in addition to those in the CA 2006, to the accounts and reports of listed and AIM companies and companies with securities traded on the NEX Exchange Main Board, NEX Exchange Growth Market or NEX Exchange Secondary Market which are outside the scope of this Note. In relation to some of these requirements for listed companies, see Practice Notes: Listing Rules requirements—the annual financial report and Disclosure Guidance and Transparency Rules requirements—the annual financial report.

Brexit impact

The UK corporate reporting framework may be affected by Brexit. For further details of its impact, see Brexit—accounts and reports.