{"id":21541,"date":"2021-01-04T10:00:54","date_gmt":"2021-01-04T09:00:54","guid":{"rendered":"https:\/\/eiposgrados.com\/?p=21541"},"modified":"2021-01-25T10:26:46","modified_gmt":"2021-01-25T09:26:46","slug":"what-is-non-financial-information-and-which-companies-must-present-it","status":"publish","type":"post","link":"https:\/\/eiposgrados.com\/eng\/blog-direccion-financiera\/que-es-la-informacion-no-financiera-y-que-empresas-deben-presentarla\/","title":{"rendered":"Non-financial information: What is it and which companies are required to present it?"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">We say the financiers who <\/span><span class=\"s2\"><b><i>\u00a8What are not accounts, are stories\u00a8 <\/i><\/b><\/span>But reality shows us that this is not entirely true.<\/p>\n<h2 class=\"p1\"><span class=\"s3\">What<\/span>What is non-financial information?<span class=\"s3\">?<\/span><\/h2>\n<p class=\"p1\">It is additional information that companies that meet certain requirements must additionally present to the <strong>purely accounting information<\/strong>, aiming to generate trust in its interest groups based on a <strong>transparent and global vision of the company<\/strong> and its evolution, as well as the impact of its activity on society.<\/p>\n<p class=\"p1\">Through this non-financial information, the <strong>qualitative data from financial statements with quantitative information<\/strong>, therefore expanding the content that the annual corporate governance information must incorporate.<\/p>\n<p class=\"p1\">The disclosure of non-financial information, as established by law, will have<strong> benefits to companies<\/strong>:<\/p>\n<p class=\"p3\"><i> &quot;Generating transparency to achieve trust, providing reliability through the transmission of global information about the company, through useful information for decision making with the aim of improving the performance of the organization and identifying risks for the benefit of sustainability.&quot;<\/i><\/p>\n<h2>Aspects that non-financial information should include<\/h2>\n<p class=\"p1\">Non-financial or corporate social responsibility-related information contributes to <strong>measure, monitor and manage performance<\/strong> of companies and their impact on society.<\/p>\n<p class=\"p1\">Law 11\/2018 is the literal transposition of the European directive, <strong>Directive 2014\/95\/EU of the European Parliament<\/strong> about. Non-financial information <strong>includes aspects<\/strong> as:<\/p>\n<ul class=\"ul1\">\n<li class=\"li1\">Information necessary to understand the evolution of the results, the situation of the company or group of companies.<\/li>\n<li class=\"li1\">The impact of its activity regarding environmental and social issues, with respect to human rights.<\/li>\n<li class=\"li1\">Aspects linked to the fight against corruption and bribery.<\/li>\n<li class=\"li1\">And other personnel issues.<\/li>\n<\/ul>\n<p class=\"p1\">It will be mandatory that the report on non-financial information be presented as a separate item on the agenda for approval at the General Meeting of shareholders of the companies. This report will be made available to the public <strong>free and will be easily accessible<\/strong> on the company&#039;s website within the <strong>six months later<\/strong> at the end date of the financial year and for a <strong>five year period<\/strong>.<\/p>\n<p class=\"p4\">In summary the non-financial information statements<strong> they will give information<\/strong> about:<\/p>\n<h2 class=\"p1\"><span class=\"s3\">What<\/span>Who is obliged to present non-financial information<span class=\"s3\">?<\/span><\/h2>\n<ul class=\"ul1\">\n<li class=\"li1\">Public Interest Companies.<\/li>\n<li class=\"li1\">Companies that prepare consolidated accounts.<\/li>\n<li class=\"li1\">Companies that have more than 500 workers.<\/li>\n<li class=\"li1\">Companies that for 2 consecutive years meet 2 of the following circumstances:\n<ul class=\"ul1\">\n<li style=\"list-style-type: none;\">\n<ul class=\"ul1\">\n<li style=\"list-style-type: none;\">\n<ul class=\"ul1\">\n<li class=\"li1\">Your total assets are greater than 20 million euros<\/li>\n<li class=\"li1\">Net annual turnover of more than 40 million euros<\/li>\n<li class=\"li1\">Have a workforce of more than 250 workers<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"p1\">Non-Financial Information must be <strong>Mandatory verified by an independent provider<\/strong> verification services in order that said information is free of relevant errors.<\/p>\n<p class=\"p1\">Statutory auditors and audit firms only need to verify that the non-financial information statement has been provided.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-21543\" src=\"https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla-300x200.jpg\" alt=\"What is non-financial information and which companies must present it\" width=\"400\" height=\"267\" title=\"\" srcset=\"https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla-300x200.jpg 300w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla-1024x684.jpg 1024w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla-768x513.jpg 768w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla-1536x1025.jpg 1536w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla-2048x1367.jpg 2048w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla-247x165.jpg 247w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla-190x126.jpg 190w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla-scaled.jpg 1920w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/p>\n<h3 class=\"p1\"><span class=\"s3\">C<\/span>When should it be submitted?<span class=\"s3\">?<\/span><\/h3>\n<p class=\"p1\">We have a <strong>maximum period of three months<\/strong> from the close of the fiscal year, that is, the non-financial information must be presented on March 31 if accounts are presented on December 31, or June 30 if they are presented on March 31, <strong>must be available for 5 years<\/strong>.<\/p>\n<h3 class=\"p1\"><span class=\"s3\">C<\/span>What are the requirements of the information to be presented based on standard 11\/2018<span class=\"s3\">?<\/span><\/h3>\n<p class=\"p6\"><span class=\"s5\">C1<\/span>. Information about the company:<\/p>\n<ul class=\"ul1\">\n<li class=\"li7\">Description of the group&#039;s business model, including its environment, organization and structure, the markets in which it operates, its objectives and strategies, and the main factors and trends that may affect its future evolution.<\/li>\n<li class=\"li7\">Analysis of short, medium and long term risks.<\/li>\n<li class=\"li7\">Policies that apply on risk issues and their impact.<\/li>\n<li class=\"li7\">Company commitments to sustainable development.<\/li>\n<li class=\"li8\">Consumers: complaint system for complaints received and their resolution.<\/li>\n<li class=\"li8\">Tax information.<\/li>\n<li class=\"li8\">Key non-financial indicators and any other significant information.<\/li>\n<\/ul>\n<p class=\"p9\"><span class=\"s5\">C2<\/span>. Information on environmental issues of the company&#039;s activities:<\/p>\n<ul class=\"ul1\">\n<li class=\"li10\">Current and foreseeable effects of activities on the Environment.<\/li>\n<li class=\"li10\">Pollution, measures to prevent, reduce and repair emissions.<\/li>\n<li class=\"li11\">The use of renewable and\/or non-renewable energy and improve efficiency. energy and the fight against climate change.<\/li>\n<li class=\"li11\">Circular economy.<\/li>\n<li class=\"li11\">Greenhouse gas emissions.<\/li>\n<li class=\"li11\">Sustainable use of resources such as water.<\/li>\n<li class=\"li11\">Generation of air pollution.<\/li>\n<li class=\"li10\">Effect on climate change.<\/li>\n<li class=\"li10\">Protection of biodiversity.<\/li>\n<\/ul>\n<p class=\"p9\"><span class=\"s5\">C3<\/span>. Information on social and personnel issues:<\/p>\n<ul class=\"ul1\">\n<li class=\"li10\">Employment, total number, distribution by men and women, sex, age, country, professional qualification, types of contract.<\/li>\n<li class=\"li10\">Application of the fundamental conventions of the World Labor Organization.<\/li>\n<li class=\"li10\">Number of hours of absenteeism, measures to promote conciliation.<\/li>\n<li class=\"li10\">Health and safety conditions at work, work accidents.<\/li>\n<li class=\"li10\">Training, number of training hours by job category.<\/li>\n<li class=\"li10\">Universal accessibility for people with disabilities.<\/li>\n<li class=\"li10\">Non-discrimination and inclusion of any human being.<\/li>\n<li class=\"li10\">Measures applied in favor of equality between men and women.<\/li>\n<li class=\"li10\">Promoting dialogue with local communities and their development.<\/li>\n<li class=\"li10\">Protocols against sexual harassment.<\/li>\n<li class=\"li10\">Diversity management.<\/li>\n<\/ul>\n<p class=\"p9\"><span class=\"s5\">C4<\/span>. Information on respect for human rights:<\/p>\n<ul class=\"ul1\">\n<li class=\"li10\">Prevention of human rights violations.<\/li>\n<li class=\"li10\">Elimination of discrimination in employment.<\/li>\n<li class=\"li11\">Compliance with the provisions of the fundamental conventions of the International Labor Organization.<\/li>\n<li class=\"li10\">Measures to mitigate human rights abuses.<\/li>\n<li class=\"li10\">Effective abolition of child labor and forced and compulsory labor.<\/li>\n<\/ul>\n<p class=\"p9\"><span class=\"s5\">C5<\/span>. Information regarding the fight against corruption and bribery:<\/p>\n<ul class=\"ul1\">\n<li class=\"li10\">Anti-bribery policies.<\/li>\n<li class=\"li10\">Fight against money laundering.<\/li>\n<li class=\"li10\">Any other instrument that the company applies against corruption.<\/li>\n<li class=\"li10\">Contributions to foundations or other non-profit entities.<\/li>\n<\/ul>\n<h3 class=\"p4\"><span class=\"s3\">C<\/span>How financial information should be presented<span class=\"s3\">?<\/span><\/h3>\n<ul class=\"ul1\">\n<li class=\"li1\">Non-financial information can be presented <strong>consolidated with the management report itself<\/strong>.<\/li>\n<li class=\"li1\">In document <strong>separate from the information<\/strong>, but making it clear that it is part of the management report.<\/li>\n<li class=\"li1\">It must be <strong>signed by the administrator and approved by the General Shareholders&#039; Meeting<\/strong>s.<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"alignnone wp-image-21551\" src=\"https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla.-300x200.jpg\" alt=\"\" width=\"400\" height=\"267\" title=\"\" srcset=\"https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla.-300x200.jpg 300w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla.-1024x684.jpg 1024w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla.-768x513.jpg 768w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla.-1536x1025.jpg 1536w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla.-2048x1367.jpg 2048w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla.-247x165.jpg 247w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla.-190x126.jpg 190w, https:\/\/eiposgrados.com\/wp-content\/uploads\/2021\/01\/Que\u0301-es-la-informacio\u0301n-no-financiera-y-que\u0301-empresas-deben-presentarla.-scaled.jpg 1920w\" sizes=\"(max-width: 400px) 100vw, 400px\" \/><\/p>\n<h4 class=\"p1\"><span class=\"s3\">What<\/span>What happens to companies that, having the obligation, do not present it?<span class=\"s3\">?<\/span><\/h4>\n<p class=\"p1\">The absence of this non-financial information report, having the obligation, could <strong>imply the non-registration of their accounts in the Commercial Registry<\/strong>, and if the Financial Statements are not deposited, the Registry will be closed for this company.<\/p>\n<p class=\"p1\">If the company does not apply some of the policies that it must report on, such as the diversity policy, there is no obligation to establish it, although the corporate governance statement must clearly explain the reason why it is not implemented. this policy applies.<\/p>\n<p class=\"p1\">The information included in the non-financial information statement will be verified by an independent verification service provider. Account auditors and account audit companies only <strong>They must verify that the non-financial information statement has been provided<\/strong>.<\/p>\n<p class=\"p1\"><strong><span class=\"s3\">l<\/span>a Spanish Association of Accounting and Business Administration<\/strong> <b>(AECA)<\/b> has actively participated in the implementation of the non-financial information regulations, as recognized in the BOE of law 11\/2018, on the one hand having created its commission of experts the &quot;Integrated Table of Indicators (CII-FESG) and its XBRL taxonomy\u201d, referenced, in turn, in the CNMV Guide.<\/p>\n<p class=\"p1\">On the other hand, AECA has created the <span class=\"s6\">platform <\/span><strong><span class=\"s6\">Integrated Suite<\/span><\/strong> as a support system to generate and present non-financial information digitally, it has been developed based on its integrated information model: CII-FESG Integrated Indicator Table (2012), in turn based on the <strong>International Integrated Reporting Council (IIRC) Framework<\/strong> (2013), therefore its guidelines are compliance with the legal framework and good practices, being admitted by the <strong>Commercial Registry and the National Securities Market Commission<\/strong>.<\/p>\n<p class=\"p12\"><i>\u00a8 Non-financial information must be concise, precise, reliable and comparable and is intended to provide information about the company&#039;s performance and the impact of its work on society.<\/i><span class=\"s7\">\u00a8<\/span><\/p>\n<p>On Tuesday, January 26, at 10 a.m., the EIP International Business School, together with AECA, organize an interesting day in which they will have Jos\u00e9 Luis Lizcano, managing director of AECA, and in which they will present the <a href=\"https:\/\/eiposgrados.com\/eng\/financial-management-blog\/what-is-aeca-and-what-does-its-institutional-agreement-with-eip-consist-of\/\">agreement signed between the association and our school<\/a>. In addition, Jos\u00e9 Luis Lizcano will give a conference on Non-financial information: Legal framework and national and international standardization, present and future. <strong><a href=\"https:\/\/trabajaendireccionfinanciera.com\/no-hagas-un-master-haz-este-master_26-01-2021\" target=\"_blank\" rel=\"noopener\">Sign up!<\/a><\/strong><\/p>\n<p>This article is authored by the Director of the Master of Financial Management of the <a href=\"https:\/\/eiposgrados.com\/eng\/\">EIP International Business School<\/a>, <a href=\"https:\/\/www.linkedin.com\/in\/anamcabezas\/\" target=\"_blank\" rel=\"noopener\">Ana Cabezas<\/a>, learn more about her on her LinkedIn profile.<\/p>\n<p>&nbsp;<\/p>","protected":false},"excerpt":{"rendered":"<p>Are you immersed in the world of finance, and you still don&#039;t know what non-financial information is and which companies should present it? It&#039;s time to meet him! We tell you everything you need to know about a company&#039;s non-financial information.<\/p>","protected":false},"author":77,"featured_media":21543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[174],"tags":[],"class_list":["post-21541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-direccion-financiera"],"acf":[],"_links":{"self":[{"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/posts\/21541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/users\/77"}],"replies":[{"embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/comments?post=21541"}],"version-history":[{"count":0,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/posts\/21541\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/media\/21543"}],"wp:attachment":[{"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/media?parent=21541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/categories?post=21541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/eiposgrados.com\/eng\/wp-json\/wp\/v2\/tags?post=21541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}