Accounting Act, Act C, Section 95

The EU Modernisation Directive (2003/51EC directive) was implemented in Hungary by Act XCIX, approved by the Hungarian Parliament in October 2004. The requirements of the directive were incorporated into the Accounting Act, Act C of 2000.

Issuer name

Ministry of National Economy

Government ministry

Finance/Treasury

More information

There is no specific detailed guidance for reporting and assurance on these disclosures. The regulation resulted in very limited development of non-financial reporting. Most of the companies meet the requirements but the separate section dedicated to non-financial performance in annual reports is mostly descriptive and has limited quantitative content.

Organizations covered by the instrument

All Companies

Target organization notes

All organizations except those in the public sector

Industry scope

All/none specified

Disclosure venue

Annual report

ESG coverage - E (Environment)

All

ESG coverage- S (Social)

Employment Conditions, Policies and Practices

ESG coverage- Eco (Economic & General)

Market presence, Economic performance

Status

Expired

Country

Hungary

Region

Europe

Date of publication

2000

Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary

Mandatory

The geographical scope

National/federal

Go to the instrument