EGIAN Meeting in Brussels: Focus on European Sustainability Reporting and Collaboration

Published on Nov 14th, 2023

The European Global Accountancy Networks and Associations (EGIAN) held their Autumn meeting in Brussels 13-14 November, providing a platform for like-minded professionals from various associations and networks to share knowledge, insights, and shape policy in Europe, driving sustainable business practices.

At the meeting, representatives from EGIAN member organizations, including BKR CEO Tim Morris and Iulia Lascau, Vice Chair of the EMEA board, emphasized the importance of collaboration and discussed key initiatives in European Sustainability Reporting, Assurance, and Advisory.

One of the highlights of the event was the presentation by Hilde Blomme, Deputy Chief Executive of Accountancy Europe, who provided the participants with an EU Technical Regulatory Update, ensuring attendees were informed about relevant changes and updates affecting the industry.

Chiara Del Prete, Chair of the Task Force on European Reporting (TEG) at the European Financial Reporting Advisory Group (EFRAG), provided an outline of implementation guidance for Sustainability Reporting, including aspects such as double materiality and the development of the SME Standard. This was an extremely useful contribution for navigation of the evolving sustainability reporting landscape.

Similarly, discussions led by the Chair of the European Contact Group (ECG), focusing on sustainability-related matters, helped participants gain a broader perspective on the ongoing work and initiatives in the field. Whilst representatives from H3C (France) and IDW (Germany) provided useful insights into their respective countries’ stance on Sustainability Standards; highlighting their approach to maintaining independence between financial reporting and sustainability reporting, and the need for robust and transparent reporting practices.

Iulia Lascau, Vice Chair of the EMEA board, emphasized the significance of the event, stating, “This event further demonstrates the strength of audit professionals from different networks or alliances working together, united by shared values. EGIAN’s commitment to advancing sustainable business practices and to creating a more responsible and resilient business ecosystem empowers all members to actively contribute and play a leading in shaping the future of our profession”.

Once the presentations and documents have been released in the coming days, they will be published in the RESOURCES section of the website.