EFRAG reviews a pivotal year for European reporting
The European Financial Reporting Advisory Group (EFRAG) has published its 2025 Annual Review, offering a full run down of what could be described as a rollercoaster of a year in European corporate reporting. EFRAG’s 2025 report gives an overview of reforms in financial and sustainability reporting, with a focus on the latest updates in simplification and global alignment.
The year was dominated by updates and uncertainty relating to the Omnibus I proposals, which kicked off a significant simplification exercise for the European Sustainability Reporting Standards (ESRS). EFRAG delivered its technical advice on draft simplified ESRS to the European Commission in December 2025, with mandatory data points reduced by 61% compared to the original standards. The review also charts EFRAG’s ongoing work on the connectivity between financial and sustainability reporting, a question of growing practical importance.
For those tracking the arc of European reporting reform, the report provides a useful refresh from the intersection of financial and sustainability reporting. EFRAG will also mark its 25th anniversary with a hybrid conference on 8 June 2026.
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