Companies: Audit
The question
To ask the Secretary of State for Business and Trade, whether his Department has made an assessment of the potential merits of requiring organisations to provide information on (a) staff turnover and (b) workforce changes in corporate reporting.
Answered by Kate Dearden
The Government is currently reviewing the UK’s corporate reporting framework. The aim of the review is to simplify and streamline reporting requirements to ensure reporting is focussed on providing decision-useful information to investors and creditors. The Government has no plans to introduce new reporting in relation to workforce planning and staff turnover. The International Sustainability Standards Board (ISSB) is conducting research on the merits of an international corporate reporting standard on human capital-related issues. This research will inform the ISSB’s plan to develop future standards and the Government will consider any standard the ISSB develops in due course.
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