7. May 2020

BMJV commissions ASCG with CSR study

The German Federal Ministry of Justice and Consumer Protection (BMJV) has appointed the Accounting Standards Committee of Germany (ASCG) with an extensive investigation of the non-financial reporting of German companies.

The commission is in connection with the recommendation for a resolution of the Committee for Legal Affairs and Consumer Protection of the German Bundestag, which it issued on the occasion of the adoption of the NFR Directive Transposition Act (CSR-RUG) on March 8, 2017. According to this recommendation, the Federal Government is requested to report to the Committee by 31 December 2021 on the review of the Directive at European level and on the experience of German companies with the implementation of the requirements.
The ASCG has been commissioned on the basis of Section 342 (1) No. 2 of the Commercial Code in conjunction with Section 5 (1) of the standardisation agreement concluded between the BMJV and the ASCG.

Accordingly, the BMJV requests the ASCG to provide the following services:

  1. the evaluation of a representative sample of the non-financial information of the reporting disclosed by entities for the fiscal years 2017-2019 (horizontal study). The evaluation will examine 15 pre-defined aspects that allow statements to be made about the reporting quality of the enterprises over time;
  2. conducting a stakeholder survey involving preparers, auditors and users of non-financial information and asking them about any change requirements resulting from the results of the study referred to in paragraph (1);
  3. the submission of proposals for measures considered appropriate to address identified challenges and to increase the effectiveness of CSR reporting obligations on the basis of the two preceding paragraphs. Here, firstly, proposals are expected to be brought into the European discussion in order to avoid national solo efforts.

The above-mentioned activities are to be completed in the third quarter of 2020 in order to provide the Federal Government with a solid basis for the upcoming discussion on the further development of non-financial reporting at European level.

The ASCG’s President, Prof Dr Andreas Barckow, commented on the occasion of the commission as follows: “I am delighted with this mandate, as it illustrates the great recognition and appreciation of the work of our Technical Committees and the expertise they bring together. Admittedly, the scope of the study’s services requested deserves my respect – not least in view of the time dimension. Nevertheless, I am confident that our study will make a solid contribution to the further development of non-financial reporting.”