The revision of the Non-Financial Reporting Directive (2014/95/EU) has been scheduled by the European Commission for the year 2020. Since 2017 around 8,000 European companies have been obliged to submit non-financial reporting on environmental, social and labour issues, respect for human rights, and the fight against corruption and bribery. However, national and international studies show that these reporting obligations have – so far – been implemented only unsatisfactorily in practice. That is why the Austrian Chamber of Labour points out three main issues the revision should focus on: an extension of the scope of the directive, a clear definition of the reporting obligations' minimum contents and the establishment of a mandatory external audit regime on a par with financial reporting.

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