EC public consultation on non-binding guidelines on methodology for reporting non-financial information

ACCA has submitted a response to the European Commission public consultation on the non-binding guidelines on methodology for reporting non-financial information.

ACCA's position

ACCA believes that non-financial information provides crucial context for shareholders to understand companies’ development, performance, position and impact.

For information to be useful and understandable, only information that is of strategic importance should be disclosed.

Need for further guidance

While the Directive requires auditors to ‘check’ whether the non-financial statement has been provided, the European Commission should clarify the intended scope of auditors' responsibilities in order to avoid widening the expectation gap.


As blockchain and other forms of mutual information transfer develop, further evolution is expected in this area. Corporate reporting should stand ready to respond to the opportunities that technology brings, while ensuring accountability over information is maintained.