Large companies in the European Union are facing new rules regarding the disclosure of non-financial data, under amendments to the EU Accounting Directive approved this week by European Parliament.
The amendments will require companies with more than 500 employees to disclose information relating to environmental, social, and human rights issues, as well as anti-bribery and corruption matters. The disclosures will encompass policies, risks, and results. Large, listed companies also must provide diversity information for their boards of directors, including age, gender, educational and professional background, as well as board policy information. If a firm does not have a diversity policy, it must explain why, under the new rules.
