Austrian Commercial Code (UGB) §243, 2005

Europe Current 2015

The Austrian Rechnungslegungsänderungsgesetz (ReLÄG) accounting law enables the transposition of the EU Modernisation directive (2003/51/EC) into national law. The ReLÄG amended §243 of the Unternehmensgesetzbuch (UGB) or Commercial Code which stipulates the content of annual reports. §243b requires the annual publication of a Corporate Governance Report.

Scope

Governance

Industry sectors covered by the instrument

All/none specified

Organizations covered by the instrument

Large companies (listed & unlisted)

Type of instrument

Legislation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Project Partners