CSR (Corporate Social Responsibility)-Directive-Implementation Act published

The act concerning the strengthening of non-financial reporting of companies in their management reports was published in Federal Law Gazette on April 18, 2017. Thereby, the act became effective on April 19, 2017. By this act certain large businesses are obliged to expand their (group-) management reports by non-financial (group-) statement. Furthermore, certain companies are obliged to include information concerning their diversity approach in their statement on corporate governance. The legislative regulation shall basically apply to management reports for the business year starting after December 31, 2016, i.e. in case of a calendar-based business year it applies already in 2017.

Source: DRSC (Accounting Standards Committee of Germany)