The Companies (Directors’ Remuneration and Audit) (Amendment) Regulations 2025
These regulations were laid before Parliament on 3 April 2025 and are due to come into force on 11 May 2025. The regulations will remove certain over-lapping requirements from the directors’ remuneration reporting framework, and also clarify certain powers of the UK audit regulator.
Documents
Details
This Statutorystatutory Instrumenttnstrument (SI) will remove certain EU-origin directors’ remuneration reporting requirements on UK listed companies, which overlapped with pre-existing and continuing UK requirements.
A short guidance note covering certain timing and other matters relating to these changes is attached (full details of the changes are set out in the explanatory memorandum).
In respect of the powers of the audit regulator, the regulations clarify certain powers in relation to overseas audits involving non-UK companies and their auditors. They also introduce a discretionary exemption from the prohibition of certain non-audit services. This would be granted in exceptional cases, so that an audit firm providing any such services to a Publicpublic Interestinterest Entityentity will be able to seek to tender for the audit of that entity.
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Sentsent to sift on:044 March 2025 -
Siftinglaid before Parliament on: 3 April 2025 -
sifting status:
Openclosed
Updates to this page
Last updated
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Sifting status, explanatory memorandum and statutory instrument documents updated. This Statutory Instrument has now been laid before Parliament and sifting has been closed.
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Wording in details section updated to reflect policy position - a discretionary exemption from the prohibition of certain non-audit services would be granted in exceptional cases.
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First published.