First CSRD reports in: lessons, tensions and next steps

Posted on May 12, 2025 by Editor

Accountancy Europe and the European Contact Group (ECG) have published a summary of their CSRD Practice Forum held in Brussels on 4 April 2025. With the first wave of CSRD reports now published, the event gathered preparers, auditors, users and regulators to assess early implementations.

Reports have been substantial in length and effort, with many companies demonstrating strong engagement despite the compressed timeline, incomplete guidance, and national inconsistencies. Still, there were clear hurdles: double materiality assessments, data gaps across value chains, and diverging interpretations between preparers and assurance providers. The tight integration with annual reports remains a complex task.

Discussion also turned to the European Commission's Omnibus simplification proposals. Concerns were raised around proportionality, clarity, and maintaining a coherent sustainability framework. Participants pointed to the need for improved guidance, sector insights, international interoperability and a more structured approach to assurance-especially in the absence of an EU-wide limited assurance standard.

As reporting expectations sharpen, so too must the systems, support and scrutiny around them. And errr… the much-needed digital implementation.

The full meeting summary is available to download here.