The European Financial Reporting Advisory Group (EFRAG) announced on Friday 4 September the setting up of a working group mandated by the European Commission to carry out preparatory work in the event that the European Union decides to develop non-financial reporting standards (see EUROPE 12512/16).
Led by current chairman of the French Accounting Standards Authority and former chairman of the Mazars group, Patrick de Cambourg, this group is made up of representatives of organisations with an interest in the issue, such as the public sector (ECB, European Environmental Agency, the European Banking Authority, etc.), SMEs, rating agencies, civil society, and (non-) financial companies.
The working group will present the results of its work in early 2021, with an interim report announced for October.
“EFRAG is honoured by the confidence placed in it by the European Commission in its request for this important first step towards the possible development of European non-financial reporting standards”, said Jean-Paul Gauzès, chairman of the organisation’s Board of Directors, in a statement.
See the list of experts on the working group: https://bit.ly/2R5a9fY (Original version in French by Mathieu Bion)