Accountancy Europe organised a webinar on how to ensure high-quality non-financial information (NFI) reporting and assurance, in hopes of achieving more reliability, better confidence in markets and progress on the global sustainable finance objectives.
This debate took place as the European Commission (EC) is revising the Non Financial Reporting Directive (NFRD) to improve disclosures on NFI at the EU level. In his keynote speech, Alain Deckers (DG FISMA, European Commission) provided insights into the upcoming NFRD revision.
“If we were to move towards integrated reporting, then it makes sense for both financial information and non-financial information to be audited or assured in an integrated manner. In such a case, the logical candidate for the job would be the audit profession…”
The NFRD is linked to other European legislative initiatives, which create their own requirements, such as the Sustainability-Related Disclosures Regulation (SRDR) for financial market participants or the EU Taxonomy Regulation. There is a need for close coordination to ensure that the information disclosed by an investee company under the NFRD corresponds to the disclosure requirements that investors need to comply with.
Read more here.