The quoted companies regime
Produced in partnership with Tessa Park of Moore Kingston Smith
The quoted companies regime

The following Corporate practice note produced in partnership with Tessa Park of Moore Kingston Smith provides comprehensive and up to date legal information covering:

  • The quoted companies regime
  • Rules and guidance
  • When the quoted companies regime applies
  • Revised Shareholders Rights Directive
  • Annual accounts and reports
  • Annual accounts
  • Approval of accounts
  • Directors’ report
  • Strategic report
  • Directors' remuneration report
  • More...

This Practice Note summarises the additional rules governing the preparation of annual accounts and reports by quoted companies under Part 15 of the Companies Act 2006 and regulations made under it.

The degree to which financial reporting will be impacted by Brexit is yet to be fully seen (see Brexit—accounts and reports). A UK body for endorsement of UK adopted IFRS has now been set up and going forward, IFRS accounts will be prepared in accordance with IFRS as adopted by the UK, rather than IFRS as adopted by the European Union as has been the case in the past.

Rules and guidance

The statutory rules governing annual accounts and reports of quoted companies are set out in:

  1. Part 15 of the Companies Act 2006 (CA 2006)

  2. the Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, SI 2008/410 (Large Companies Regulations)

  3. Regulation (EC) 1606/2002 on the application of international accounting standards

A company that meets the definition of a quoted company is subject to more onerous accounting and reporting obligations than a company that falls within any other accounting regime. This reflects the increased public interest in the financial statements of such a company.

For a general overview of the CA 2006 provisions governing a company's annual accounts and reports, see Practice Note: Accounts and reports—an outline of the statutory framework.

In addition to the CA

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