On 17.12.2013 the Committee on Legal Affairs adopted the report drafted by Raffaele Baldassarre by 21 votes in favour, 1 against and 2 abstentions. The report contains a series of technical amendments to bring the text of the proposal into line with the substance of the new Accounting Directive. It introduces disclosure requirements for large companies and groups with more than 500 employees, which will make them more accountable to investors, consumers and civil society, and help them to manage risks more effectively. The report details the information to be provided, particularly on the impact of the undertakings' activities relating to environmental, social and employee matters, respect for human rights, fight against corruption and bribery as well as a description of the undertakings' commercial strategy and business model.
Finally, a review clause calls on the Commission to consider proposing requirements in 2018 for country-by-country reporting on profits, taxes and subsidies.
Source : © European Union, 2014 - EP