Financial reporting obligations of a company and its directors

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

  • Financial reporting obligations of a company and its directors
  • Coronavirus (COVID-19) impact—temporary extension of time to publish and file accounts
  • 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
  • Extension of time to file accounts
  • Failure to file accounts and reports
  • Directors’ liability for failure to file accounts and reports
  • Court order
  • More...

Financial reporting obligations of a company and its directors

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 AQSE Main Market, AQSE Growth Market or AQSE Trading (formerly NEX Exchange Main Board, NEX Exchange Growth Market and 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.

Coronavirus (COVID-19) impact—temporary extension of time to publish and

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