The changes, which would see some 1,300 quoted companies having to publish an obligatory financial review alongside annual reports and accounts could be pushed back by three months.
Such a delay could give companies breathing space for an extra 12 months when it comes to implementing the changes, depending on when their year-end accounting takes place.
The Financial Times newspaper reports that ministers at the Department of Trade and Industry are expected to announce the delay next month.
During a consultation on the changes, business groups voiced concerns that legislation was being implemented too quickly.
The January 1, 2005 deadline was being implemented to comply with European directives.
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team
UK M&A activity bounced back strongly in July and August, according to analysis by the deals practice at PwC.
Smith & Williamson has added Jim Clark and Philip Marsden, of Marsden Clark Corporate Finance Limited, to its corporate finance team.