IOGP response to the public consultation on the revision of the NFRD

This document provides IOGP’s contribution to the public consultation on the revision of the Non-Financial Reporting Directive (NFRD).

The response to the consultation is sent through an online questionnaire.

Background

The Non-Financial Reporting Directive – NFRD – (Directive 2014/95/EU) is an amendment to the Accounting Directive (Directive 2013/34/EU).

It requires certain large companies to include a non-financial statement as part of their annual public reporting obligations. Companies under the scope of the NFRD had to report according its provisions for the first time in 2018 (for financial year 2017).

Context

This public consultation aims to collect the views of stakeholders with regard to possible revisions to the provisions of the NFRD. The principal focus of this consultation is on the possible options for such revisions.

Overview

The questionnaire is structured as follows:

1. Information about the stakeholder
2. Quality and scope of non-financial information to be disclosed
3. Standardisation
4. Application of the principle of materiality
5. Assurance
6. Digitisation
7. Structure and location of non-financial information
8. Personal scope
9. Simplification and reduction of administrative burdens for companies