Non-financial information

From 1 January 2017 a new obligation for the accounting of large companies will arise - the so-called non-financial information shall be published.

The non-financial information relates to:

a)  environmental matters,

b)  social and employee matters,

c)  respect for human rights and

d)  anti-corruption and bribery matters.

The aim of the new regulation is to achieve better transparency in the social and environmental matters of companies.

Public-interest entities which are parent undertakings of a large group exceeding on its balance sheet dates, on a consolidated basis, the criterion of the average number of 500 employees during the financial year shall include in the consolidated management report a consolidated non-financial statement. Accounting auditors must pay attention to the fulfillment of this obligation.

The obligatory non-financial statement is a whole European measure. The regulation contents the Directive 2014/95/EU of the European Parliament and of the Council. The implementation period ended on 6 December, but in the Czech Republic the corresponding amendment to Law No 563/1991 Coll., on accounting, is still in the legislative process. However, it can be assumed that the entry into force on 1 January 2017 will be achieved.