|
Accountancy Europe Publication: The Late Payment Regulation proposal – bringing fairness to business transactions
On 12th September 2023, the European Commission released the Late Payment Regulation (LPR), a legislative proposal to tackle late payments in commercial transactions in Europe. It aims to:
- bring fairness into commercial transactions;
- increase supply chains and SME’s resilience;
- foster a more widespread use of digitalisation; and
- improve financial literary of entrepreneurs.
Accountancy Europe published a factsheet to provide a high-level summary of the main provisions of the LPR and explores the impact on Small and Medium Enterprises (SMEs).
European Single Access Point (ESAP) - What do auditors need to know?The European Single Access Point (ESAP) will be set up as an EU-wide mechanism providing digital and centralised access to financial and sustainability information disclosed by companies in the European Union. Auditors play a crucial role in promoting the transparency and reliability of such reporting. This factsheet from Accountancy Europe aims to provide a brief overview of ESAP, focusing on matters relevant to audit profession.
|
ESG Governance: Six ways for Boards to lead the sustainability transition
Issued in cooperation between Accountancy Europe, Chapter Zero Brussels, ECIIA and ecoDa, this paper provides advice and examples to support board members with effective ESG governance within their organisations. It is based on interviews conducted with board members and sustainability experts where interviewees shared success stories, challenges and lessons learned.
Accountancy Europe Update: FAQs on sustainability reporting assurance
As part of the efforts to reach the European Union (EU) Green Deal objectives, the Corporate Sustainability Reporting Directive (CSRD) obliges companies to disclose sustainability information in their management report according to the European Sustainability Reporting Standards and file it in a digital machine-readable format.
Accountancy Europe has provided answers to frequently asked questions on sustainability reporting assurance, which have been categorised as key concepts of assurance on sustainability reporting and EU regulatory framework.
Accountancy Europe’s first specific recommendations on administrative burden reduction
The European Commission is expected to launch an ‘omnibus package’ on 26th February 2025 which might, as suggested by President Ursula von der Leyen, focus on the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD) and the EU taxonomy.
If the Commission decides to propose changes to the core legislation, Accountancy Europe has provided recommendations for how this could be done. These recommendations include alleviating the reporting burden of CSRD and sector specific reporting requirements, and suggestions on EU taxonomy and the CSDDD.
Accountancy Europe: online discussion with experts on SME sustainability reporting
Accountancy Europe prepared an online session which looks at recent developments in sustainability reporting for Small and medium-sized enterprises (SMEs), specifically the draft on the voluntary SME standard produced by the European Financial Reporting Advisory Group. The session highlights the types of assistance that accountants can provide for their SME clients.
Accountancy Europe’s information paperAccountancy Europe’s information paper shows how the private equity (PE) investment in the European accountancy profession has evolved over the last ten years. Based on public data and case studies, the paper explores the rise of private equity in the profession, investment models and strategies, PE investments in audit firms, and country insights from 2015 to 2025. |
Accountancy Europe’s omnibus statement on ESRSAccountancy Europe has provided suggestions to help the European Financial Reporting Advisory Group (EFRAG) and the European Commission revise the European Sustainability Reporting Standards (ESRS). Its feedback focuses on reducing the number of ESRS datapoints, clarify provisions that are deemed unclear, improve consistency with other pieces on European legislation, provide clearer instructions on how to apply the materiality principle, simplify the structure and presentation of the standards, and enhance interoperability with global sustainability reporting standards. |
Accountancy Europe’s information paper
Accountancy Europe’s information paper shows how the private equity (PE) investment in the European accountancy profession has evolved of over the last ten years. Based on public data and case studies, the paper explores the rise of private equity in the profession, investment models and strategies, PE investments in audit firms, and country insights from 2015 to 2025.
Accountancy Europe report: IP driving European competitiveness
At a recent network event, Accountancy Europe and other partners engaged in discussions on the impact of intellectual property (IP) in driving European competitiveness. Among others, these discussions outlined the need to keep pace with other economic powers, the link between effective IP use and start-ups performance, and the importance of the Competitiveness Compass, helping to identify the actions needed for the future.
Accountancy Europe view on the CSRD Omnibus proposal
Accountancy Europe shared its views with respect to the Omnibus proposal to reduce the Corporate Sustainability Reporting Directive (CSRD) scope and the Omnibus proposal on sustainability and reporting assurance.
Accountancy Europe’s hub on the Omnibus proposal
Accountancy Europe shared a page gathering all its contributions and resources on the Omnibus proposal since December 2024. These include factsheets, comment letters, public statements, consultation responses and Accountancy Europe’s views on the Omnibus ongoing discussions.
How to achieve EU competitiveness through sustainability rules
Accountancy Europe released a joint statement calling on European Union (EU) policymakers to preserve the EU sustainable finance framework, explaining how regulatory simplification can be achieved without affecting sustainability rules or their benefits for EU businesses.
Supervisory requirements versus financial reporting
Accountancy Europe has published an analysis of the various objectives and approaches in the context of European banks with regards to financial instruments reporting, specifically supervisory expectations versus financial reporting requirements.
The publication highlights the different purposes, key contrasts, areas of alignment and tension, and the role of management discretion.
Accountancy Europe’s recommendations to streamline the EU tax system
A complex tax environment is weighing down European businesses, including small and medium practices. Overlapping European Union (EU) rules, inconsistent national implementation, and outdated administrative processes concur to create unnecessary burdens.
Accountancy Europe released a paper on tax simplification, outlining practical recommendations for a smoother and more coherent EU tax framework.
Accountancy Europe’s sustainability statements on ESRS
As of 1st January 2024, companies in the European Union must prepare sustainability statements based on European Sustainability Reporting Standards (ESRS). This, however, has stirred opposing views among stakeholders on whether the statements should be prepared using a “compliance” or “fair presentation” framework.
A paper released by Accountancy Europe outlines the differences between the two frameworks and what it means for sustainability reporting and sustainability assurance.
 | Recent News | Suite 4, Level 1, Tower Business Centre, Tower Street, Swatar, BKR 4013, Malta E-mail: info@miamalta.org Tel. +356 2258 1900 |
© MALTA INSTITUTE OF ACCOUNTANTS, 2024 |