presenting the framework and main aspects
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On 21 April 2021, The European Commission adopted a legislative proposal for a Corporate Sustainability Reporting Directive (CSRD). One of the key provisions of the CSRD is that companies in scope would have to report in compliance with European sustainability reporting standards (ESRS) adopted by the European Commission as delegated acts, on the basis of technical advice provided by EFRAG. On 15 March 2022, the EFRAG General Assembly also approved EFRAG’s Due Process Procedures EU Sustainability Reporting Standard- Setting.
In April 2016, the European Commission proposed an amendment to Directive 2013/34 / EU (Accounting Directive) regarding the publication of information on corporate income tax of certain companies and branches as part of the Action Plan for a fairer corporate income tax system. Directive 2021/2101 was adopted on 24 November 2021 and entered into force on 21 December 2021. Country-by-country reporting is an effective and appropriate tool to increase transparency regarding the activities of multinational companies and to enable the public to assess the impact of these activities on the real economy. Public reporting by country also improves the ability of shareholders to properly evaluate the risks to which companies are exposed, leads to investment strategies based on accurate information and increases the ability of policy makers to assess the effectiveness and impact of national legislation.
Digitalization is all around us. It is an increasingly common term that we encounter in everyday business and faster reactions are guaranteed this way. Frequent changes and market demands dictate the business of each company. Increasingly frequent changes in laws and regulations lead to the application of information and communication technology in everyday life.
Given that digitalization creates new rules and is an increasingly common concept in business, it is necessary to work every day to improve the skills and knowledge of employees. Digitalization ensures effectiveness and innovation and successful response to every challenge.
Employee motivation has become a very important topic in the last few years. At the time of the pandemic, employee productivity increased due to hybrid or remote modes of operation, while for some this productivity was quite low. Employees want to feel valued and want to gain in importance. Their effort and work must be appreciated, and clear expectations must be set at the outset. Grant Thornton’s 2022 study, Women in Business, shows that 95% of medium-sized businesses are actively promoting employee diversity and involvement, up from 92% in 2021. Organizations place emphasis on structured efforts to engage their workforce.
If you’re in the world of finance, you’ve no doubt recently read about SPACs and have probably wondered what they are and whether they can be traded. In the previous year, a record activity of Special Purpose Acquisition Company (SPAC) was recorded. While the U.S. was the most prominent market for SPAC activities, new regulations were introduced in markets such as Hong Kong and Singapore to promote SPAC ads and capital market activities.
A little less than a year separates us from the arrival of the new currency on the Croatian market. The current situation of knowledge and awareness of state institutions, as well as physical and business users, is really low. During each change of principles and laws, the legislator takes everything in its regulatory framework to adapt the situation in the country to the accompanying changes.
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