Recent headlines have been claiming that UK companies are ‘required’ to include commentary on the Brexit in their annual reports.
What happens as a result of the referendum on 23 June will clearly have consequences for UK public listed companies as markets react to the outcome and businesses work through the likely consequences. In this article, we analyse some of the issues of a potential Brexit and consider the implications for UK corporate reporting.
Though there has been a lot of media attention about a potential Brexit with some companies aligning to the ‘yes’ and others to the ‘no’ campaigns, there has been much less attention to what it actually means. As Linklaters have noted:
“Many companies have not yet done detailed assessments or scenario planning on the possibility of the UK withdrawing from the EU. Doing so is made difficult by the lack of a blueprint for what would follow the UK’s exit from the EU.”
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