The FRC has published a factsheet on the new regulations implementing the EU Non-Financial Reporting Directive on non-financial and diversity information.
The regulation requires the disclosure of the company’s development, performance, position and impact of its activity, information relating to environmental, employee, social, respect for human rights, anti-corruption and anti-bribery matters. It applies to entities with at least 500 employees and are traded companies, banking companies, authorised insurance companies and companies carrying on insurance market activity.
The new regulations amend the Companies Act 2006 requirements for the Strategic Report and include diversity requirements in the Disclosure and Transparency Rules (DTR).
The regulations apply to financial years beginning on or after 1 January 2017.
The factsheet can be found here.