Summary
The 2015 law on the amendment of the Annual Accounts Act and various other laws in Denmark primarily focused on enhancing transparency and accountability in the financial reporting of businesses. The law requires companies to disclose information related to their ownership, governance, and financial performance, including their corporate social responsibility policies, gender diversity on boards, and executive remuneration. The law also mandates that companies prepare their financial statements in accordance with International Financial Reporting Standards (IFRS) and adopt digital financial reporting in their annual reports. Furthermore, the law strengthens the audit committees' role in companies and enhances their independence, ensuring that auditors carry out their duties effectively and efficiently.