The European Financial Reporting Advisory Group (EFRAG) has published an exposure draft for a European Sustainability Reporting Standard (ESRS) for listed small- and medium-sized entities (SMEs) and an exposure draft for a voluntary reporting standard for non-listed SMEs. 

The European Union’s Corporate Sustainability Reporting Directive, published in December 2022, tasks EFRAG with providing technical advice to the European Commission on ESRSs. As part of this mandate, EFRAG has been asked to develop an ESRS for SMEs that are public-interest entities. These include entities whose transferable securities (bonds, shares and other securities) are admitted to trading on a regulated market in the European Union, small and non-complex institutions, and captive insurers and reinsurers. p (EFRAG) has published an exposure draft for a European Sustainability Reporting Standard (ESRS) for listed small- and medium-sized entities (SMEs) (ESRS LSME ED) and an exposure draft for a voluntary reporting standard for non-listed SMEs (VSME ED).

More information here.

Should you require further information in relation to these new changes, please contact Miriam Sultana on miriam.sultana@pkfmalta.com

Please note that this article is being published solely for informational purposes. It is imperative to note that this content neither constitutes nor should be inferred as legal advice or guidance. PKF Malta Limited explicitly disclaims any responsibility or liability for potential damages that may arise from the utilisation of this information as a substitute for professional legal advice or guidance.