Implementation of the European Directive on Non-financial Information in the European Economic Area
Implementation of the European Directive on Non-financial Information in the European Economic Area

Author(s): Veronika Popelková, Jaroslav Sedláček
Subject(s): Law on Economics, EU-Accession / EU-DEvelopment, EU-Legislation
Published by: Masarykova univerzita nakladatelství
Keywords: non-financial reporting; Corporate Social Responsibility; the European Directive on non-financial information;
Summary/Abstract: With effect from 1 January 2017, states of the European Economic Area were obliged to implement Directive 2014/95/EU of the European Parliament and of the Council amending Directive 2013/34/EU as regards the disclosure of non-financial information and information on diversity by some large companies and groups. The aim of this article is to compare, on the basis of the chosen criteria, the national transpositions of the individual states concerning the reporting of non-financial information and to assess the degree to which individual Member States have transposed the requirements of the European Directive 2014/95/EU on non-financial information. Based on a detailed analysis of the European Non-Financial Information Directive, the following criteria have been chosen to compare national legislation: definition of public interest entity, public topics of non-financial information and their content, standards and frameworks for reporting non-financial information, auditor’s involvement, Safe Harbour Principle, description of diversity policy, disclosure requirements and sanctions for breach of obligations. Based on the statistical evaluation, the degree of implementation of the European Directive in the individual states is assessed.

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