The UK Companies Act
Company law in the UK is mainly set out in the Companies Act 2006 (the 2006 Act).
Part 15 (sections 380 to 474) sets out requirements for the preparation, distribution and filing of accounts and reports including the choice of accounting framework. These requirements are supplemented by regulations which contain, for example, the detailed requirements for the form and content of financial statements.
Part 16 sets out the general requirements for accounts to be audited including exemptions for certain companies, rules around the appointment, removal and resignation of auditors and auditors' liability.
The 2006 Act is wide ranging and covers almost all of the law applicable to companies. Its requirements are not static and are amended from time to time. This is usually done by means of regulations know as statutory instruments which are subject to a lighter touch legislative process than Acts of Parliament.
The UK Companies Act 2006 - Legal Texts [read]