EFRAG Releases 2025 Annual Review, Highlighting Its Role in Strengthening Europe’s Reporting Framework
Brussels, 20 May 2025 – Today, EFRAG has published its Annual Review 2025, highlighting the organisation’s key achievements and strategic developments across both its financial and sustainability reporting activities over the past year. The document is available exclusively in digital format on the EFRAG website.
Benoît Jaspar, EFRAG Administrative Board President, commented:
“In 2025, EFRAG’s work helped ensure that reporting standards remained useful, proportionate and cost-efficient for European companies, while preserving transparency for investors.”
Highlights from the Financial Reporting Pillar
EFRAG’s work in financial reporting is aimed at supporting Europe’s competitiveness, strengthening its proactive role in global standard-setting, and improving connectivity between financial and sustainability reporting. Key technical contributions included work on IFRS 3 Business Combinations, IAS 36 Impairment of Assets, IFRS 18 Presentation and Disclosure in Financial Statements, IFRS 19 Subsidiaries without Public Accountability, IFRS 20 Regulatory Assets and Regulatory Liabilities, and Statement of Cash Flows. Through these projects, EFRAG promoted proportionate, transparent and investor-focused reporting whilst reducing unnecessary complexity and commercially sensitive disclosures for companies. The review also highlights progress on initiatives such as risk mitigation accounting and strengthened co-operation with international standard setters.
Highlights from the Sustainability Reporting Pillar
In 2025, EFRAG’s sustainability reporting pillar focused on simplifying the European Sustainability Reporting Standards (ESRS) and strengthening the ecosystem around the Voluntary Standard for non-listed SMEs (VSME). The Draft Simplified ESRS introduced a more proportionate, principles-based approach, reducing complexity, reporting costs and implementation challenges while maintaining transparency and informational integrity under the Corporate Sustainability Reporting Directive (CSRD). EFRAG also supported SMEs through the VSME Forum and Ecosystem, digital tools such as the VSME Digital Template and XBRL Converter, and the launch of the EFRAG Knowledge Hub. Internationally, EFRAG contributed to greater interoperability through engagement with a wide array of stakeholders).
To learn more about EFRAG and explore the future direction of corporate reporting in Europe, register and join our upcoming conference on 8 June.
