Corporate Reporting Modernisation: Consultation
House of Commons · Written Statements · 7 Sep 2026 · 1 speech · Official Report
I am pleased to announce that today the Government have launched a public consultation on modernising corporate reporting. As announced in the House in October 2025 by Minister McDougall, this is a significant step in our programme to simplify, streamline and modernise the UK’s corporate reporting framework. The consultation sets out the Government’s proposals on how to reset the purpose of company annual reports and accounts, ensuring they provide decision-useful, financially material information for investors, creditors and others It also invites views on creating a more proportionate, flexible and modern reporting framework, including: simplifying strategic, governance and remuneration reporting; moving towards a more proportionate financial reporting regime; focusing non-financial disclosures on what is genuinely material; and embedding digital-first corporate communications where appropriate. These reforms, among others, are intended to remove duplication and unnecessary requirements, improve clarity for preparers and users and future-proof the UK’s reporting system, consistent with international developments. By simplifying and refocusing corporate reporting on decision-useful information, the proposed reforms in the consultation aim to improve and attract capital allocation, reduce unnecessary burdens on business and help unlock investment that drives growth across the UK economy. The programme builds on the Government’s previous work on non-financial reporting and...