We advocate for strengthening NFI assurance requirements, building a common comprehensive NFI standard and tackling the substantial issues in NFI reporting.
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.
In particular, the EU should consider that:
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standard setting requires a multi-stakeholder approach with robust, independent governance and sufficient resources
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a voluntary, simplified reporting standard for SMEs could reduce administrative burden and effectively support delivering information on demand
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the materiality definition should be clarified to encompass wider impacts on society and the environment
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assurance should be mandated at EU level
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the scope should encompass all companies that significantly impact the environment and society
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NFI should be disclosed as part of the management report, and needs to cover what is material to the company
Accountancy Europe
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