L

Lord Sikka (Lab)

Speaking in the House of Lords on 15 October 2025

Debate

Companies (Directors’ Report) (Payment Reporting) Regulations 2025

Contribution

I will be. A point was made about the auditors looking at the directors’ report. The law requires auditors to see that the directors’ report is consistent with the view given by the audited financial statements, but it does not require auditors to audit the directors’ report. There is a fundamental difference between examining and auditing. The Minister made a point about Companies House. Companies House is a giant filing box: it does not verify the contents of the financial statements, and no one at Companies House will be checking to see that the directors’ report has the information required by this statutory instrument.

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