Mazars is pleased to be featured in Board Agenda as the publication's mission as well as the topics highlighted fit under our Business. For Good program. We invite you to read a brief overview of each one our contributions to the Summer edition below as well read the entire article by downloading the PDFs at the bottom of this page.
Non-Financial Reporting Directive: embracing the challenge
The EU Non-Financial Reporting Directive (NFRD) is the latest attempt to persuade companies to integrate sustainability, amongst other areas, into key business structures and processes, and report what they are doing to tackle these key risks. “The NFRD brings greater understanding and awareness of how businesses can really cause negative impacts in areas such as human rights, the environment and anti-bribery and corruption—even where to date they have been fortunate enough to avoid any major incidents,” explains Richard Karmel, head of sustainability at Mazars UK.
Addressing these issues should not be seen as a compliance cost, but as an investment - but how can companies start moving in this direction? Read the full article here.
Europe’s new experiment: a year into EU audit reform
It is one year since the official deadline to implement the EU audit reform (EAR) package by member states, and the regulatory landscape across the EU presents a unique model that could serve as a possible testing ground. “The next five years will be telling in terms of the impact of different options in different markets, providing policymakers with a great case study to justify adjustments in the future,” says Fatemeh Jailani, European Affairs Project Director at Mazars.
Learn more about how the EU audit reform experiment is pushing boundaries and testing the ability of the audit market to reform itself here.
Mittelstand companies: secrets behind their success
Mittelstand companies are looked upon with envy, but it is their readiness to innovate and adapt to the challenges of the business environment that makes them successful. “There are a lot of Mittelstand companies that are international champions in niche areas of industry,” says Pierre Zapp, a partner and management board member of Mazars in Germany. “They often have a reputation for forming long-term relationships with clients, suppliers and staff—sometimes lasting generations. That can be a real advantage over listed competitors who face short-term market pressures.”
The strength of Germany’s mid-cap industrial companies also comes with corporate governance challenges if the “Mittelstand” companies want to stay competitive in fast-changing global markets. Read the full article here.