European Commission 21 April 2021, COMMISSION STAFF WORKING DOCUMENT IMPACT ASSESSMENT Accompanying the document Proposal for a Directive of the European Parliament and of the Council amending Directive 2013/34/EU, Directive 2004/109/EC, Directive 2006/43/EC and Regulation (EU) No 537/2014, as regards corporate sustainability reporting

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This European Commission Staff Working Document sets out an impact assessment for a legislative proposal amending Directive 2013/34/EU, Directive 2004/109/EC, Directive 2006/43/EC, and Regulation (EU) No 537/2014 regarding corporate sustainability reporting. The preferred policy package mandates that all large limited liability companies and listed small and medium-sized enterprises (SMEs) report under mandatory EU sustainability reporting standards and obtain limited assurance with a review clause toward reasonable assurance. It further establishes requirements for digital tagging of reports, reporting on intangibles, inclusion of disclosures within the management report, and clarification of the double materiality principle and supervisory enforcement regimes.AI