{"id":1562,"date":"2021-09-13T23:02:51","date_gmt":"2021-09-13T21:02:51","guid":{"rendered":"https:\/\/eaa-online.org\/arc\/blog\/blog\/update-eaa-stakeholder-reporting-committee-response-consultation-paper-due-process-procedures\/"},"modified":"2022-10-19T08:38:55","modified_gmt":"2022-10-19T06:38:55","slug":"update-eaa-stakeholder-reporting-committee-response-consultation-paper-due-process-procedures","status":"publish","type":"post","link":"https:\/\/eaa-online.org\/arc\/blog\/2021\/09\/13\/update-eaa-stakeholder-reporting-committee-response-consultation-paper-due-process-procedures\/","title":{"rendered":"Update from the EAA Stakeholder Reporting Committee \u2013 Response to the Consultation Paper on Due process procedures for EU sustainability reporting standard-setting"},"content":{"rendered":"

Posted by Bego\u00f1a Giner on behalf of the EAA Stakeholder Reporting Committee<\/a><\/p>\n

In response to the Consultation Paper on on Due process procedures for EU sustainability reporting standard-setting<\/strong> issued by EFRAG in June 2021, the Stakeholder Reporting Committee of the European Accounting Association (\u201cthe SRC\u201d) issued a response letter the 6th<\/sup> of September outlining our position in relation to the issues raised therein — see below or attached.<\/p>\n

As indicated in our response, we agree in general terms with the Consultation Paper<\/em>, but we highlight some aspects that caught our attention. They are specifically referred to the relationships between the EFRAG Sustainability Reporting Board<\/em> and the EFRAG Sustainability Reporting Technical Expert Group. We refer to the importance of not eliminating key steps in the \u201caccelerated due process\u201d that is contemplated in the paper, <\/em>and the need to clarify the responsibilities of the organizations the public consultations.<\/p>\n

————<\/p>\n

6 September 2021<\/p>\n

Mr. Jean-Paul GAUZ\u00c8S<\/strong>
\nEFRAG Board President<\/strong>
\nSquare de Mee\u00fbs, 35
\nB-1000 – Brussels
\nBelgium<\/u><\/p>\n

Re: Consultation Paper on due process procedures for EU sustainability reporting standard-setting<\/strong><\/p>\n

Dear President Gauz\u00e8s,<\/p>\n

The Stakeholder Reporting Committee<\/em> (SRC) is a committee of the European Accounting Association<\/em> (EAA) whose mission is to actively participate in the debate about how organisations can, and should, inform their wide range of stakeholders about their activities, including their impact on society. It focuses on the non-financial or sustainability reporting. Further, given that non-financial information is increasingly attracting the interest of regulators, our Committee also aims to create awareness of the policy issues amongst our membership and to collaborate with policy makers and standard setters with a view to allowing the academic community\u2019s research expertise to have an impact on emerging policies and standards.<\/p>\n

We provided our comments to the Consultation Paper on the ad personam mandate on potential need for changes to the governance and funding of EFRAG<\/em>. Our letter dated 4 January 2021 referred to:<\/p>\n