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Finnish Accounting Act 2016/1376

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Summary

The Finnish Accounting Act (1336/1997), as amended in 2016 by Act 2016/1376, requires large public interest entities to include material non-financial issues in their annual/financial reports from financial year 2017 onwards. This includes information on environmental matters, social and employee-related matters, respect for human rights, anti-corruption, and bribery. The amendment is intended to reflect the content in the European Commission Directive 2013/34/EU, which states that reporting information "should not be restricted to the financial aspects of the undertaking's business, and there should be an analysis of environmental and social aspects of the business necessary for an understanding of the undertaking's development, performance or position.

Thumbnail image for The Finnish Accounting Act (1336/1997), as amended in 2016 by Act 2016/1376, requires large public interest entities to include material non-financial issues in their annual/financial reports from financial year 2017 onwards. This includes information on environmental matters, social and employee-related matters, respect for human rights, anti-corruption, and bribery. The amendment is intended to reflect the content in the European Commission Directive 2013/34/EU, which states that reporting information "should not be restricted to the financial aspects of the undertaking's business, and there should be an analysis of environmental and social aspects of the business necessary for an understanding of the undertaking's development, performance or position.
Issuer

Finland

Year

2016

Region

Europe

Policy Type

Disclosure

Geographical scope

National

Mandatory or voluntary

Mandatory


Main industries targeted
  • Finance & Insurance
  • Professional, Scientific, & Technical Services
  • Real Estate, Rental & Leasing
  • Manufacturing
Restrictiveness

Low

Sustainable Development Goals (SDGs)
  • SDG 8: Decent Work and Economic Growth
  • SDG 10: Reduced Inequality
  • SDG 17: Partnerships for the Goals

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