Modernising Corporate Reporting consultation | Informational Session

techUK is holding an informational session on the Modernising Corporate Reporting consultation with officials from the Department for Business, Innovation, Science and Trade (BIST). This session offers members an opportunity to hear directly from the policy team, explore the proposals in more detail and raise any initial questions or concerns.

Overview of MCR consultation

The consultation sets out how the UK's corporate reporting framework could be updated to better meet the needs of companies, investors and the wider economy, with the overarching aim of supporting growth and strengthening the UK's international competitiveness. Presented by government as a "common sense" reset of corporate reporting and an important component of the Industrial Strategy, it forms part of a wider programme to streamline regulation and reduce administrative burdens on business.

The proposals look at clarifying the purpose of reporting as providing information for investors and creditors, rationalising thresholds and exemptions –including removing many medium-sized companies from requirements – and reducing overall requirements across financial, non-financial, corporate governance and remuneration reporting. The consultation also asks how requirements for private companies should reflect factors such as size, ownership structure and financing arrangements.

Informational webinar

During the session, BIST officials will walk through various aspects of the consultation, including considerations for smaller and larger companies, followed by an open Q&A with members.

This webinar will be of interest to members working in finance, reporting, governance, cyber security, legal and ESG roles, as well as those interested in the application of AI and digital tools to corporate reporting.

The full consultation and its accompanying annexes can be found on the GOV.UK consultation page.

techUK will be submitting a formal response to the consultation. If you have any questions ahead of the session or would like to be kept up to date with our drafting process, please contact elisabeth.sullivan@techuk.org.