EU Launches Digital-Friendly Financial Reporting Strategy

By Lucia Osborne-Crowley (December 16, 2021, 3:02 PM GMT) -- The European Commission has introduced a new strategy for the financial reporting requirements it places on finance firms in the bloc, with a focus on taking advantage of digital technology and encouraging accurate and consistent statements.

The European Union's executive arm said on Wednesday that its new financial reporting strategy aims to standardize the way such firms hand over their data to regulators.

"Our aim is to make financial reporting in the EU more effective and to take full advantage of the opportunities offered by the digital transition," said Valdis Dombrovskis, an executive vice president of the commission. "This strategy paves...

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