Non-financial information (NFI) is crucial for companies, investors and other stakeholders to make sound business decisions. Providing independent assurance on the reported NFI enhances its quality and reliability. The demand for assurance on NFI has been growing steadily, but the practice still varies across Member States.
Our publication sets out how European countries have transposed the Non-Financial Reporting Directive 2014/95/EU (the NFRD) into national law and the impact on the role of the statutory auditor and independent assurance services provider. We also look into the voluntary assurance practice beyond legal requirements across Europe.
Our factsheet shows that out of the 26 European countries covered:
- 12 countries apply the minimum requirement for the statutory auditors to check whether NFI has been provided
- 11 countries have an additional requirement to check the consistency of NFI with the financial statements
- 3 countries opted for mandatory independent assurance over the NFI
- 14 countries indicated to have companies seeking voluntary independent assurance
If you have additional information on how independent assurance practice is developing across Europe, please contact [email protected].