Back to overview

Transposition of EU NFR Directive: Amendments to Accounting Act C of 2000

Hungary Current 2016

212. § Chapter 95/C pg. 6616: the content is not fully clear, however it does fall in line with the directive (stipulates necessary requirements for non-financial statement, encourages the use of integrative reporting and has 'comply or explain')

Issuer name

Ministry of National Economy, accounting and supervision

More information

Diverges from the Directive by: imposing fines specified in the Civil Code, and expanding upon the definition of PIEs

Comply or explain

True

Organizations covered by the instrument

Large private and listed companies

Target organization notes

Public-interest entity qualifying as a parent company, which the respective fiscal year balance sheet date, any two of the following three index values ​​are greater than the following limits: the balance sheet total of HUF 6000 million the annual net income of HUF 12 000 million average number of employees during the financial year of 250 employees and Public interest enitities that for the fiscal year exceeds the average number of employees 500 people"

Industry scope

All/none specified

Disclosure venue

(Consolidated) Annual Report

ESG coverage - E (Environment)

All

ESG coverage- S (Social)

Employment Conditions, Policies and Practices, Social Impacts & Value Creation, Human Rights

ESG coverage- G (Governance)

Accountability, Anti-Corruption and Anti-Competitive Behaviour

Status

Current

Country

Hungary

Region

Europe

Date of publication

2016

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