SARAS publishes updated Management Reporting Guide
SARAS has developed an updated edition of the Management Reporting Guide, which is a widely applicable, recommendatory document based on the latest international practice and does not lead to any new legal obligations. It sets out the basic principles, compliance with which ensures the proper presentation and comparability of financial statements. The Guide is particularly valuable for its context-specific examples.
Changes in the new edition provide entities with information on the requirements of the EU Corporate Sustainability Reporting Directive and the European Sustainability Reporting Standards that will help them to improve their management reporting. Changes outlined in the document are intended to provide stakeholders with additional guidance on sustainability and environmental, social and governance issues based on the EU Corporate Sustainability Reporting Directive and the European Sustainability Reporting Standard.
It should be noted that the Guide is an explanatory document and does not have binding legal force. SARAS is currently in the dynamic process of translating and implementing the European Union Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS). In the event of a discrepancy between the Guide and the legislative amendments, the provisions of the legislation will prevail and editorial corrections will be made to the Guide as necessary.
The Guide was developed in collaboration with the International Finance Corporation (IFC) under the IFC Europe and Central Asia Environmental, Social and Governance Program, which is being implemented in partnership with the Swiss State Secretariat for Economic Affairs (SECO).
SARAS is particularly grateful to the IFC for its contribution to the development of the Guide.