News Item on unofficial translations of the VSME ED in Spanish and Italian

In particular:

• Instituto de
  Contabilidad y Auditoría de Cuentas (ICAC)
  has developed an unofficial Spanish translation of the
  VSME ED. (for more information on the VSME ED, EFRAG, Consejo General de Economistas and ICAC are organising a joint event on 12 April, more info here)
  

• Organismo Italiano di Contabilità (OIC) has
  finalised an unofficial Italian translation of the VSME ED.

These translations
are unofficial and have not been reviewed nor approved by EFRAG. They
aim to encourage more SMEs in engaging with the VSME ED and in participating in
the related public consultation and field test, overcoming the language barrier.

EFRAG
encourages other national standard setters to make available unofficial
translations.

For more
information on the VSME ED public consultation and field test, please click here.

BACKGROUND

EFRAG has been tasked to develop a voluntary
standard for non-listed SMEs (VSME). This standard aims to be a simple
reporting tool used by micro-, small- and medium-sized enterprises (SMEs) to
monitor their sustainability performance and face growing and different ESG
data requests from their business counterparts (i.e., banks, investors, or
larger companies in the upstream value chain).

The EFRAG SRB approved the VSME ED on 29
November 2023. The Exposure Draft was issued on 22 January and the consultation
period expires on 21 May 2024.