PARLIAMENTARY WRITTEN QUESTION
Small Businesses: Annual Reports (12 September 2024)
Question Asked
To ask the Secretary of State for Business and Trade, what steps the Department is taking to improve the requirements for annual reporting for small and mid-sized quoted companies.
Asked by:
Gareth Bacon (Conservative)
Asked by:
Gareth Bacon (Conservative)
Answer
The Government is reviewing non-financial reporting requirements and company size thresholds to simplify, streamline and reduce reporting obligations for all companies. Small quoted companies will benefit from the removal of unnecessary and duplicative reporting. However the Government believes that small quoted companies should provide enhanced transparency compared to similar sized private companies. Accountability and transparency are necessary to protect investors and maintain trust in financial markets.
Answered by:
Justin Madders (Labour)
7 October 2024
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