Financial Key Figures - Voluntary Template for SMEs - FCA
- Active
- Research phase
- Rasmus Sommer, Aleksandra Sivash
Description
On 29 July 2025, EFRAG received a letter from the EC outlining the European Commission's initiative to enhance the accessibility and comparability of financial information for Small and Medium-sized Enterprises (SMEs) within the EU. It highlights the crucial need for high-quality, standardised data to attract investors and facilitate better access to finance for these businesses, especially innovative and fast-growing ones. The letter proposed the development of a voluntary, KPI-based reporting template for SMEs, which would be accessible via the European Single Access Point (ESAP), to streamline information sharing and reduce administrative burden.
EFRAG was requested to assess stakeholder interest in this initiative, considering the potential costs and benefits for both SMEs and investors, and to provide its report by June 2026. This effort aims to harmonise reporting practices without increasing burdens, ultimately benefiting the EU economy's competitiveness.
The letter requests that EFRAG conduct a survey or consultation with both SMEs and investors to assess the interest in this initiative.
Specifically, EFRAG is asked to:
understand the views of both potential preparers (SMEs) and users (investors, banks, etc.) regarding such a disclosure;
assess the possible content and structure of the proposed template.
EFRAG was requested to submit its assessment in the form of a report by the end of June 2026.
