Since 2018, we have frequently heard talk about the obligation to prepare the “statement of non-financial information” but, What do we mean when we talk about this? Next, we are going to answer the most frequently asked questions regarding this topic.
To begin, it must be clarified that the non-financial information statement (EINF) is an annual obligation imposed on certain companies by the Law 11/2018, of December 28, which modifies the Commercial Code, the consolidated text of the Capital Companies Law approved by Royal Legislative Decree 1/2010, of July 2, and Law 22/2015, of July 20, on Audit of Accounts, in terms of non-financial information and diversity. This Law, which transposes Directive 2014/95/EU, responds to the growing demand from investors, clients and society in general, who not only demand information on economic and financial matters from companies, but also, In addition, it demands greater transparency in matters of sustainability and social responsibility.
Who is this Law 11/2018 addressed to?
Since January 2021, this provision is mandatory for companies and groups of companies with 250 or more employees and that also meet the following requirements:
- that are considered entities of public interest or
- or who have fulfilled for at least two years with an asset greater than 20 million euros;
- or whose annual turnover exceeds 40 million euros.
What content should the EINF address?
Broadly speaking, it should describe the organization's business model, including environmental issues (pollution, sustainable use of resources, circular economy, climate change, etc.), social and personnel issues (labor relations, equality, employment, training , etc.), issues related to human rights, the fight against corruption and bribery, and finally, the company's commitment to society (sustainable development, subcontracting and suppliers, consumers and tax information).
Should the EINF be contrasted?
In accordance with Law 11/2018, the information included in the EINF is verified by an independent external third party and must be made available to the public free of charge and easily accessible on the organization's website.
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