The Italian Accounting Standard Setter (Organismo Italiano di Contabilità – OIC) publishes its comment letter in response to EFRAG’s consultation on the Exposure Draft ESRS for Certain Non-EU Undertakings in Accordance with Article 40a of the Accounting Directive.

In particular, it expressed reservations regarding the introduction of the mixed approach, considering that this option is neither consistent with the objective of ensuring high-quality sustainability reporting nor with the principle of a level playing field between EU and non-EU companies. Furthermore, its application could give rise to issues regarding competitiveness, practical feasibility, and the comparability of the reported information.

The OIC also highlighted the need to clarify the equivalence regime for standards applicable to non-EU companies, in order to ensure transparency and a level playing field globally.

Attached is the comment letter sent to EFRAG.