Отчетна рамка за докладване във връзка с устойчивостта – проекции върху законодателството в Р. България
Framework for Reporting in Relation to Sustainability – Projections on the Legislation in the Republic of Bulgaria

Author(s): Snejana Bacheva, Roumiana Pozharevska
Subject(s): Politics / Political Sciences, Politics, Economy, National Economy, Business Economy / Management, Governance, Economic policy, EU-Approach / EU-Accession / EU-Development, Accounting - Business Administration
Published by: Университет за национално и световно стопанство (УНСС)
Keywords: sustainability; Sustainability Reporting Standards; Sustainability Reporting Standards by SMEs; regulatory framework
Summary/Abstract: In June 2020, Regulation (EU) 2020/852 establishing a framework to facilitate sustainable investment was published. One year later, the European Commission published a proposal for a Corporate Sustainability Reporting Directive (CSRD), which contains certain rules for the disclosure of information related to sustainability issues. Directive (EU) 2022/2464 on corporate sustainability reporting entered into force on January 5, 2023. The same year, the first European Sustainability Reporting Standards (ESRS) were adopted. The adopted standards are based on drafts developed by EFRAG, which were presented for discussion by stakeholders at the end of 2022. The discussion involved various institutions such as the European Securities and Markets Authority, the European Banking Authority and The European Insurance and Occupational Pensions Authority, the European Environment Agency, the European Union Agency for Fundamental Rights, the European Central Bank, the Committee of European Audit Supervisory Authorities, etc. European standards cover a large range of environmental, social and governance (ESG) issues . Their adoption aims to: achieve an optimal balance between the administrative burden and the benefit of reporting for the interested parties; covering and reporting on a wide range of environmental, social and governance issues; achieving compliance with international sustainability standards; providing reliable and sufficient information for sustainability assessment; obtaining comparable information on sustainability and creating a common culture for greater public accountability. The report sets the goal of outlining the requirements of the main regulatory acts for reporting sustainability in the EU and their impact on the regulatory framework of the Republic of Bulgaria. The following tasks are set: to outline the role and specificity of the European Standards for sustainability reporting; to bring out the specifics of the European standards for sustainability reporting by small and medium-sized enterprises; to analyze the changes in the Accountancy Act and Law on the independent financial audit in connection with the reporting of sustainability issues in the Republic of Bulgaria.

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