The UK Government has introduced new regulations for large organizations in the draft Companies (Strategic Report and Directors’ Report) (Amendment) Regulations 2023. The requirement affects companies with 750 or more employees and an annual turnover of £750m or more. The regulations will require these organisations to report more effectively on their business resilience and assurance. Specifically, they must explain how they are managing significant risks and building or maintaining resilience. This will include producing an Annual Resilience Statement as part of their strategic report. Companies must outline the steps they are taking to build or maintain their business resilience in the short, medium, and long term. These measures were introduced in response to recent major corporate collapses, such as the compulsory liquidation of Carillion in 2018, which had far-reaching impacts on society, the economy, and businesses.