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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.
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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.
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