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

Consultation responseEC’s consultation on a new digital finance strategy for Europe/FinTech action plan

30 June 2020

UpdateSustainable Finance

30 June 2020

EventEurope’s economic recovery from COVID 19

30 June 2020

UpdateTax Policy

26 June 2020

In the mediaQuandary over future European supervisor, stakeholders give their opinions

25 June 2020

UpdateAudit Policy

23 June 2020

NewsJoint statement on the revision of the non-financial reporting directive in the context of Covid-19

23 June 2020

NewsAccountancy Europe leads the non-financial reporting debate

17 June 2020

PublicationFollow-up paper: Interconnected standard setting for corporate reporting

15 June 2020

Podcast Europe and the coronavirus crisis: what’s next?

12 June 2020

UpdateTax Policy

12 June 2020

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

12 June 2020

Consultation responsePublic letter to the IAASB: progress on draft standard for auditing less-complex entities

11 June 2020

EventThe EU’s fight against financial crime: Diving into the Anti-Money Laundering Action plan

10 June 2020

UpdateTax Policy

29 May 2020

PublicationCoronacrisis: actions for the public sector

28 May 2020

PublicationCoronacrisis: short-term actions for the public sector

28 May 2020

PublicationCoronacrisis: long-term actions for the public sector

28 May 2020

UpdateSME Update

26 May 2020

PublicationCoronacrisis: lessons for a more sustainable future

26 May 2020

Sign up for our newsletter