Non-financial reporting: ASCG in line with Accountancy Europe

In its comment letter, which was approved by the ASCG Administrative Board, the ASCG, like Accountancy Europe in its discussion paper, noted an increasing demand in non-financial corporate information from different stakeholder groups.

However, a high number of different frameworks in this area has resulted in a high degree of heterogeneity. In order to ensure high quality and comparability of this information, the ASCG believes that a single set of reporting standards is key. Intermediate solutions must be considered, especially if such standardised reporting was to be geared to all stakeholders (multi-stakeholder approach). Notwithstanding this, the ASCG, in agreement with Accountancy Europe, clearly prefers an international solution and rejects a European solo effort in setting nonfinancial reporting standards. 

Accountancy Europe, the umbrella organisation representing the accountancy profession across Europe, published the discussion paper Interconnected Standard Setting for Corporate Reporting in December 2019.