Section.172 Consultancy

Section.172 Statements are required to accompany the annual reports of all companies with a turnover of more than £36m and 250 employees.

It documents how their strategic decision making demonstrates listening to their employees and other stakeholders, as well as documenting the business’ approach to the environment.

We have the materiality assessment and statement writing expertise

Complying with S.172 of the Companies Act is beyond most accountants because it requires specialist support and resources. We offer a complete service to make your business shine, and as we complete our consultancy remotely there’s almost no interruption to your finance team.

UK-wide support for the fastest results

From SME to PLC, we’ve got the resources to ensure you know exactly what you must report, and we’ll train your board members online too.

In a rush? We’ve got you covered with the fastest turnaround time in the industry.

Need to comply? Speak with our experts

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Section 172 Statement reporting requirements:

Directors must understand their stakeholder community. A stakeholder is any individual, group, or organisation that may be affected by or have an impact on a company’s decisions, activities or outcome.
The stakeholders of your organisation can include many diverse groups or individuals. They may influence, use, benefit, or otherwise be impacted by your undertakings, or those who have special knowledge of the current situation, and those that will use, support, or maintain the final product or service.
By clustering stakeholders according to common needs, your list reduces to a more manageable length, increasing the efficiency and impact of your efforts to meet the right groups’ needs.
Your materiality assessment weighs the topics from a dual materiality standpoint, which recognises the difference between material topics of importance to your stakeholder’s vs those of primary importance to the business.
The law itself does not specify the information or level of detail that must be included in the statement. As a result, it is unlikely that a straightforward declaration that the directors have complied with S.172 or a general outline of the governance procedures will be deemed sufficient to satisfy the legal requirement and advice from a specialist is recommended.

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