On 15 January 2016, the European Commission published a consultation document on the non-binding guidelines for reporting of non-financial information by companies, as required under Article 2 of the Directive amending the Accounting Directive on disclosure of non-financial and diversity information.

The new disclosure requirements of the Directive aim to improve the transparency of EU companies in relation to nonfinancial information and they are applicable to large public-interest entities with more than 500 employees. The Directive itself is flexible so under Article 2, the Commission is required to produce these non-binding guidelines to assist with interpretation.

The consultation asks a broad series of questions on the approach that should be taken to drawing up the guidelines and on what the scope of the guidelines should be. The consultation will close on 15 April 2016.

A copy of the consultation document is available here: