UK SRS consultancy what the work involves

Disclosures sit in the annual financial report, which DTR 4.1.3R requires to be public at the latest four months after year end.

AIM securities are not admitted to the Official List, according to the AIM Rules for Companies, so the listing categories PS26/19 amends do not cover them.

For every other entity the standards are available for voluntary use, as the government’s guidance puts it.

The government’s Modernising corporate reporting consultation, open until 30 November 2026, says only that it will consider how UK SRS should be reflected in the Companies Act.

The Companies Act climate-related financial disclosure under s.414CA still applies to companies over its tests, all of which carry a floor of more than 500 employees.

The government has confirmed that UK SRS S2 is a national reporting framework for s.414CB(6), so a company reporting under S2 need not duplicate those disclosures.

The status test is worked through on the UK SRS scope checker, and the FCA rules on UK SRS and the FCA.

For a UKLR 6 company the Scope 3 relief is UKLR TP 16.4R(2)(a), and the statement names both that provision and UK SRS S2 ¶C4, according to the made rules in Appendix 1.

No comparative information is needed for the first period of disclosure, under UKLR TP 16.6G(2).

A company whose period begins before 1 January 2027 can keep the TCFD-aligned rules or adopt UK SRS early, and an early adopter keeps the same reliefs (¶3.19).

When a relief expires the disclosure moves to comply or explain, which ¶¶3.23 and 3.24 state for periods beginning in 2028 and 2029.

A company using the climate-first relief may not assert compliance with UK SRS S1, although it may still assert compliance with S2, under UK SRS S1 ¶73A.

The practical point for a UK SRS consultancy brief is that Scope 3 data work should start in the first year, because the relief ends before most supplier data programmes do.

Scope 3 is set out on UK SRS Scope 3 reporting, and moving from TCFD on TCFD to UK SRS migration.

The standard sets no thresholds for materiality (¶B19), information that is not material need not be disclosed even where a standard lists it (¶B25), and judgements are reassessed at each reporting date (¶B28).

Connected information means the disclosures cover the same reporting entity as the related financial statements (¶20), identify those statements (¶22) and use consistent data and assumptions (¶23).

They are reported at the same time as the financial statements and for the same period (¶64), which rules out a standalone sustainability report published later in the year.

This is not the double materiality of the EU’s ESRS, which adds an impact lens; the contrast is on CSRD and UK SRS compared.

The disclosure covers the inputs, the key assumptions and the reporting period in which the analysis was carried out, under ¶22(b).

A consultant who sells a fully quantified model as the only compliant approach, or who says scenario analysis is optional for smaller companies, has misread ¶¶22 and B8.

Under comply or explain, a company that cannot yet do it explains why and what it plans, as it would for any other requirement.

The S2 requirements are set out on UK SRS S2.

The FCA said it is not requiring explanations where assurance is not sought, and that it will keep the case for mandating assurance under review.

The government’s oversight response set out a voluntary, opt-in register run by the FRC, which had not opened on the latest record this site holds.

The IESBA standards bar an assurance practitioner from assuming management responsibility for a client and generally prohibit services that create a self-review threat for public interest entities.

So decide early whether you want assurance, appoint the assurer, and brief the UK SRS consultancy around that choice.

The standards are set out on sustainability assurance.