The document summarizes the EU Directive on disclosure of non-financial information, which requires large European companies to be more transparent about their social and environmental policies, risks, and performance. It discusses what types of non-financial information companies will need to disclose, including environmental impacts, social/employee matters, human rights, anti-corruption efforts, and board diversity. Companies will have time to prepare for the new reporting requirements, which will begin for financial year 2017. The document also mentions new Norwegian quality standards on crime prevention and an upcoming anti-corruption law.

1. Will your Company's Reputation Survive Dangerous Disclosures?

2. Together towards a more transparent and sustainable
Europe
The European Parliament adopted the Directive on disclosure of non-financial
information by large companies and groups on 15 April 2014. This means that Europe’s
largest companies are asked to be more transparent on social and environmental
issues.
Companies concerned will disclose information on policies, risks and outcomes as
regards environmental matters, social and employee-related aspects, respect for
human rights, anti-corruption and bribery issues, and diversity on boards of directors.
Companies will have significant time to adapt to the new requirements, and will start
reporting as of their financial year 2017.
Companies in the scope of the Directive will disclose relevant, useful information
necessary for an understanding of their development, performance, position and
impact of their activity, rather than detailed reports.
Regarding diversity on company boards, large listed companies will be required to
provide information on their diversity policy, such as, for instance: age, gender,
educational and professional background.

3. Siting the Directive: A non-financial statement will include
environmental matters, details of the current and foreseeable
impacts of the undertaking's operations on the environment,
and, as appropriate, on health and safety, the use of renewable
and/or non-renewable energy, greenhouse gas emissions, water
use and air pollution.
As regards social and employee-related matters, the information
provided in the statement may concern the actions taken to
ensure gender equality, implementation of fundamental
conventions of the International Labor Organization, working
conditions, social dialogue, respect for the right of workers to be
informed and consulted, respect for trade union rights, health
and safety at work and the dialogue with local communities,
and/or the actions taken to ensure the protection and the
development of those communities.
With regard to human rights, anti-corruption and bribery, the
non-financial statement could include information on the
prevention of human rights abuses and/or on instruments in
place to fight corruption and bribery.
The EU Directive on disclosure of non-financial
information

4. In addition to the EU`s CSR Directive on disclosure of non-financial information, here in
Norway, new security standards have been created to support Norwegian industry.
New Norwegian quality standards have been introduced within Crime Prevention
(NS5832:2014 NS5831:2014) which contains requirements for risk assessment, risk
management and verification. This standard applies to all Norwegian businesses regardless of
the industry type.
In addition, a new anti-corruption law is to be submitted for approval. The law which
expands the criminal liability of the company and leadership, will meantime reward
companies that can make evidence of risk assessments, courses and training activity,
background check and implementation of related procedures in the company's management
system.
IRMI Group offers GRC solutions such as crime preventive HSEQ services, International Due
Diligence services, analyzis, verification, Integrity Due Diligence solutions and CSR audits of
vendors and manufactures. The services are offered to international companies and their
investors, private equity, management and board. The objective is to minimize risks, secure
the process of decision making, ensure compliance in real life operations, and in accordance
with regulations, procedures and legislations such as KYC, UKBA, AML, PEP`s, Patriot Act, CFT
and FCPA. IRMI Group have professional resources, analysts and partners available in 150
countries. For Norwegian companies, our services are deductible as income acquisition and
preventive measures.

5. Implement Integrity Due Diligence and CSR into the
QMS
There is on the wave of international openness that more and more
employees have started sharing their experiences related to harmful
organization work environment and power abuse. Once the truth is
revealed, affected companies will not only lose the good reputation,
but also put at risk their business capabilities. Are you prepared to
meet the challenge of being judged by the public opinion and your
business partners?
IRMI Group Norway can assist your company with development of
Code of Conduct, development and audit of Quality Management
Systems as well as integration of different management systems. These
are preventive, easy achievable targets that will ensure stability,
success and prosperity to the whole organization. Implementing CoC,
IDD and CSR into the QMS will secure and increase your organization`s
competitive advantage and shareholder values.
Please read more about us at http://www.irmigroup.com/
Contact us at post@irmigroup.com