EFRAG-OIC Symposium: Sustainability Reporting Standards for SMEs

The EFRAG-OIC symposium "Sustainability reporting standards for SMEs—what are the issues?" is part of the 47th Annual Congress of the European Accounting Association, hosted by Luiss Guido Carli University, in Rome, Italy, from May 28th to 30th, 2025.

This session, taking place on 29 May from 14:00 to 15:30 CEST, will update participants on key developments in sustainability reporting for small and medium-sized enterprises (SMEs), especially in the context of the proposed Omnibus Directive.

A panel of experts will examine the challenges SMEs face in providing sustainability information and the opportunities emerging from standardisation. Discussion topics will include market acceptance, proportionality, cost–benefit considerations, and balancing SME reporting capabilities with stakeholder information needs.

This dialogue builds on EFRAG’s extensive work in the SME space. In 2024, EFRAG launched a public consultation on its proposed Voluntary Sustainability Reporting Standard for non-listed SMEs (VSME), which was submitted as technical advice to the European Commission on 17 December 2024. Designed for micro-, small-, and medium-sized enterprises with fewer than 250 employees, the VSME aims to simplify ESG reporting and meet increasing demands for sustainability data from financial institutions and large business partners.

The European Commission is expected to endorse the VSME, with minor revisions, as a recommendation before the Summer break in 2025.

Meet the Speakers

Who can attend?

The sessions are open to participants of the 47th Annual Congress of the European Accounting Association (EAA).