And who says transparency also says fight against corruption and accrued communication. The challenge of not conforming is significant for companies, leading to legal and reputational risks, business stakes and important costs.
Reporting, which was until now limited to financial results, has broadened its reach. A recent European directive approved and transposed into Luxembourg law in January 2017 has introduced new requirements for annual reports to reinforce corporate social responsibility through improvements in transparency regarding social and environmental information. Only a few large corporations are currently concerned in Luxembourg, but the scope of the law should be broadened soon.
IMS, well aware of these challenges for companies, has developed tools and trainings to allow its members to comply with international standards and to anticipate major risks.