1. Digital Day 2019 – What does innovation cost?
On 19 November, we held our 3rd Digital Day on the cost of innovation. Over 100 participants joined our debate on the full impact of digitalisation, to adress: how much does it cost to go digital; how environmentally friendly is it?; do we go digital in proportion with our business needs?.
We also celebrated our members’ most promising digital initiatives with the first Digitalisation Awards and we interviewed some speakers.
See the highlights of the day here.
2. Corporate Governance: a driver of a sustainable economy
The climate crisis, declining natural resources, and pollution affect us all. We need to make our economic system sustainable now, to be able to face these imminent threats. Corporate governance is instrumental to change how businesses are run and can be a main driver of a sustainable economy. Boards and policymakers/regulators are key players to transform the economy.
On 26 June, we organised an event to debate this topic with policymakers, stakeholders and other professional accountants.
See the highlights of the event here and read the publication 10 ideas to make corporate governance a driver of a sustainable economy.
3. GDPR one year on: its impact on auditors and accountants?
Keeping our personal information private is a concern for us all. It’s been one year since the EU’s General Data Protection Regulation (GDPR) required all organisations processing data to review and adapt their documents and procedures. What the GDPR means in practice has been the topic of intense debate. In this blog, we aim to clarify what the GDPR means for auditors and accountants in their daily work.
Check out our blog.
4. European single electronic format
From 1 January 2020 on, EU law requires listed companies to report their financial statements in the European Single Electronic Format (ESEF). This harmonised format makes reports machine-readable. With ESEF, the European Commission aims to facilitate access, analysis and comparability of financial statements and make reporting easier. This eventually serves to support investors in their investment decisions.
This factsheet provides an overview of these digital reporting requirements, including practical advice for preparers of financial information and the implications for statutory auditors.
Read the publication here.
5. Sustainable Finance call to action
Today’s economy needs to undergo an urgent and radical transformation to achieve climate-neutrality and sustainability. To realise such a shift, we need high-quality data on environmental, social and governance (ESG) matters. Better non-financial information will improve the assessment of ESG risks and opportunities and will eventually lead to sustainable investments. Accountancy Europe recommends five steps to revise the Non-Financial Reporting Directive (NFRD) and strengthen non-financial reporting requirements.
Read the full call to action here.
6. SME agenda for ECON: new term, what priorities?
On 5 November, Accountancy Europe co-organised with SMEunited and the European Parliament a breakfast roundtable hosted by MEP Ondřej Kovařík (Renew Europe, Czech Republic). We discussed how to further integrate the perspective and priorities of SMEs into ECON’s work in the upcoming new term.
See more on the event and on our SME work here.
7. Audit exemption thresholds in Europe
Following the 2013 Accounting Directive, small European Union (EU) companies are no longer required to have a statutory audit. However, the EU legislation allows Member States to impose an audit on their small companies based on their specific circumstances.
This publication follows up on our 2016 factsheet and presents the current audit exemption thresholds in Europe and how several countries have recently amended them.
Read our publication here.
8. Focus Area: Tax
In the new EU mandate, Accountancy Europe looks forward to continue connecting with EU decision-makers on tax matters. Our tax priorities for the new EU term have two pillars: 1) restoring trust in the tax system; 2) building a resilient future tax system.
See our tax priorities here.
9. The 5th Anti-Money Laundering Directive
Accountants and auditors play an important role in keeping European citizens safe from money laundering and terrorist financing. This factsheet highlights how their day-to-day work will be affected by the 5th EU Anti Money Laundry Directive (AMLD).
The new Directive responds to public calls to counter terrorist financing and to address the lack of beneficial ownership transparency. We set out how the legal requirements will change for accountants.
Read our publication here.
10. What to expect on Sustainable Finance 2019-2024
Sustainability has been a buzzword throughout the EU elections. Now that the elections are over, it is time to reflect on how sustainability can be integrated into the financial agenda.
On 5 June, EPC and Accountancy Europe held a post-election debate with European Issuers, EFAMA, Better Finance and AFME which presented their vision as Brussels trade organizations and, on the other side, WWF and European Investment Bank that promptly reacted to their views.
See the highlights of the event.