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EU Accounting Directive - UK Consultation on the Implementation of Extractive Sector Reporting

24 April 2014

The UK Government Department for Business Innovation & Skills has recently opened a consultation on the UK’s proposed implementation of recent EU transparency and reporting requirements applicable to the extractive industries

The consultation includes draft regulations and provides businesses with the first indication of when their legal obligations are likely to commence in the UK, what the required extractive report may look like and the penalties for non-compliance. 

This Bulletin sets out the key elements of the consultation which you should be aware of.