On the way to binding sustainability reporting

Brigitte Frey reports on about clearly recognizable tendencies in the efforts of the EU

“… That doesn’t make sense! Whom does it concern? It’s going to be way too complicated! High time! … There are many points of view on this emotionally charged topic.”

The experienced auditor and current chairman of the non-financial reporting working group in the Chamber of Tax Consultants and Auditors (KSW) introduces her “factual and objective inventory” using these often heard statements.

She identifies clear efforts to expand the obligation to report on diversity and sustainability aspects in business activities (i.e. the so-called non-financial aspects) to a much broader target group.

Currently, only around 100 companies in Austria are affected by the legal obligation. The processes currently in motion at EU level to an evaluation and further development of the NFI Directive via the Non Financial Reporting Directive (NFRD) may also be aimed to develop European non-financial reporting standards, which could then also be applicable to SMEs.

The comprehensive description can be found at (german only).