Consultation response

In our response to the European Commission (EC) consultation on revising the Non-Financial Reporting Directive, we support corporate reporting that connects financial and non-financial information. We advocate for strengthening NFI assurance requirements, building a common comprehensive NFI standard and tackling the substantial issues in NFI reporting. In particular, the EU should consider that:

  • standard setting requires a multi-stakeholder approach with robust, independent governance and sufficient resources
  • a voluntary, simplified reporting standard for SMEs could reduce administrative burden and effectively support delivering information on demand
  • the materiality definition should be clarified to encompass wider impacts on society and the environment
  • assurance should be mandated at EU level
  • the scope should encompass all companies that significantly impact the environment and society
  • NFI should be disclosed as part of the management report, and needs to cover what is material to the company

 

Related content

PublicationSetting up for high-quality non-financial information assurance in Europe

12 June 2020

PublicationSustainable Finance call to action

22 October 2019

EventSustainable tax system: towards a green future

25 October 2022

EventThe impact of bribery and corruption on SMEs

11 October 2022

UpdateSustainability

23 September 2022

Consultation responseIPSASB’s consultation on advancing public sector sustainability reporting

9 September 2022

Stories from practiceInsights from SME accountants: taking up the sustainability challenge to help SMEs

29 August 2022

NewsEuropean sustainability reporting standards: shaping EU’s green future

22 August 2022

Stories from practiceInsights from SME accountants: from professional sports to environmental accounting

9 August 2022

Consultation responseLetter to Commissioner McGuinness on EFRAG’s draft ESRS

29 July 2022

Consultation responseEFRAG PTF-ESRS exposure drafts on European sustainability reporting standards

29 July 2022

Consultation responseISSB’s Climate Exposure Draft

28 July 2022

Consultation responseISSB’s General Requirements Exposure Draft

28 July 2022

Stories from PracticeInsights from SME accountants: practitioners help SMEs go green

25 July 2022

UpdateSME Update

12 July 2022

Stories from practiceInsights from SME accountants: how to keep bringing value to small businesses

6 July 2022

UpdateSustainability

4 July 2022

NewsEU reaches agreement on the CSRD: a historic moment for corporate reporting

30 June 2022

EventSustainability assurance under the CSRD: practical implications

22 June 2022

EventESG & Corporate Governance: the evolving role of audit committees

20 June 2022

Consultation responseUS SEC’s climate-related disclosures proposed rule

17 June 2022

UpdateSustainability

9 June 2022

Sign up for our newsletter

* indicates required
Would you like to subscribe to our newsletter?
On which topics would you like to receive news?