Summary
The Transposition of the EU Non-Financial Reporting Directive (2014/95/EU) into Portuguese law led to an amendment to the Accounting Act in 2016. The amendment requires large public-interest entities (PIEs) to disclose non-financial information, such as information on environmental, social, and employee-related matters, respect for human rights, and anti-corruption and bribery issues, in their management reports. This obligation applied to companies with more than 500 employees or with a turnover of over €40 million. The objective of the transposition was to increase transparency and accountability of large companies regarding their non-financial impacts and risks, thereby contributing to sustainable development.