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Need to know — Accounting, auditing and corporate governance – legal and regulatory changes arising from Brexit

Published on: 28 Jan 2021

Under the European Union (Withdrawal) Act 2018 (EUWA 2018), the UK ceased to be a member of the EU on 31 January 2020 (‘Exit day’). Under the withdrawal agreement, enacted in UK law by the European Union (Withdrawal Agreement) Act 2020 (WAA 2020), there is an implementation period, which ended on ‘IP completion day’, defined as 31 December 2020 at 11.00 p.m. UK time.

The EUWA 2018 gave the Government the power to amend or repeal both EU-derived domestic legislation and retained direct EU law if it was necessary to do so to make UK law function as intended once the UK has exited the EU and EU law ceases to apply in the UK. The government has made a number of such statutory instruments which affect the UK accounting, corporate reporting, auditing and corporate governance regimes.


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.