The European Financial Reporting Advisory Group (EFRAG) has opened a call for expressions of interest to support engagement and research on how the forthcoming Voluntary Standard (VS) for sustainability reporting could be applied by non-SME companies outside the scope of the CSRD. EFRAG will consider applications from EU companies that are not SMEs and have fewer than 1,000 employees or annual turnover of less than EUR 450m. The outreach is also open to auditors, business associations, lenders, business partners, investors and other users of sustainability information. Planned activities include webinars, surveys, events and interviews, aimed at gathering evidence on how sustainability reporting is evolving across Europe and how the VS could work in practice for companies currently outside mandatory reporting requirements. Interested parties can submit their expression of interest by 20 April 2026. EFRAG noted that the Omnibus I Package has significantly reduced the number of companies within the scope of mandatory adoption of the simplified ESRS, and that the European Commission is expected to issue the VS later this year as a Delegated Act, based on EFRAG’s Voluntary Standard for SMEs (VSME).
European Financial Reporting Advisory Group 2026-03-23
European Financial Reporting Advisory Group launches call for expression of interest on the forthcoming voluntary sustainability reporting standard for non-SMEs outside the CSRD scope
The European Financial Reporting Advisory Group (EFRAG) seeks expressions of interest to explore the forthcoming Voluntary Standard (VS) for sustainability reporting by non-SME companies outside the CSRD scope. This targets EU companies with fewer than 1,000 employees or annual turnover under EUR 450m, as well as auditors, business associations, and other stakeholders. Activities include webinars and surveys to assess VS implementation, with the European Commission expected to issue the VS as a Delegated Act later this year.