The European Parliament (EP) is finalising its position on the EU Omnibus I Package (OP), which revises both the CSRD and CSDDD. The scope of these legislations remains the key point of contention.

Adoption of the final EP text is expected in October, paving the way for interinstitutional negotiations with EU Member States. The indicative timeline is for the OP to be officially adopted by early 2026 to avoid delays and safeguard financial market stability. Follow latest updates on ACCA’s Q&A on the EU Omnibus I Package.

Following ACCA’s recent response to the public consultation on the revised European Sustainability Reporting Standards (ESRS), EFRAG held targeted outreach events in September and October to gather additional stakeholder input.

Final technical advice will be delivered to the EC by 30 November 2025. The EC aims to adopt the amended ESRS Delegated Act by mid-2026 - depending on the OP legislative developments – to keep Europe’s sustainability reporting framework timely, coherent and fit for purpose.

ACCA welcomes the EC’s consultation on the 28th Regime, highlighting that cutting red tape and streamlining rules are vital for business growth. As an optional EU-wide framework, the regime could unlock cross-border trade and new markets - especially for SMEs.

ACCA urges investment in skills and training to drive green and digital transitions and calls for reduced barriers to recognising qualifications across borders. Launch expected in early 2026.

ACCA continues to champion SME policy across the EU, calling for urgent action to address fragmented approaches to professional qualification recognition. A newly published position paper by one of ACCA’s member partners, SMEunited, highlights how lengthy and complex national procedures remain a major barrier to cross-border mobility, limiting SME growth and access to talent.

ACCA will continue to engage with EU policymakers to advocate for practical reforms and promote best practice guidance across member states.

In October, ACCA participated in Accountancy Europe’s Member Engagement Day, joining fellow professional bodies for high-level discussions with EC representatives and IFAC CEO Lee White. Key topics included the upcoming EU Tax Omnibus Package, talent attraction and retention, and the future of the accountancy profession.

These exchanges reaffirmed ACCA’s commitment to advancing regulatory clarity, enhancing the profession’s appeal, and promoting strategic alignment across Europe and globally.

As part of its strategic engagement ahead of the upcoming Cypriot and Irish EU Presidencies, ACCA held bilateral meetings in Brussels with a range of EU policymakers and stakeholders. These discussions focused on key policy areas impacting the profession, including the EU’s competitiveness agenda, the OP, and the Union of Skills initiative - covering the new EU visa strategy, skills recognition, and the Technical Support Instrument (TSI), a vital tool for supporting member state reforms.

Through these dialogues, ACCA aims to strengthen support for SMEs including small and medium-sized practices (SMPs), promote talent mobility, and contribute to a more competitive and coherent Single Market.

The European Federation of Accountants and Auditors for SMEs (EFAA), with ACCA’s support, is championing small accounting firms across Europe. In ACCA’s AB Magazine, President Salvador Marín highlights why SMPs - vital to SME success - need a stronger voice to shape policy, spark innovation, and secure recognition for their essential role in the economy.