The EU has taken a step closer to introduce public Country by Country reporting (CbCr) today. In a conference with the internal market and industry ministers, a desire to move ahead with public CbCr was expressed by a broad majority of the EU countries’ representatives. This may require not only EU based groups, but also EU based entities of foreign groups, to present their CbC figures publicly under certain circumstances. This will put additional focus on being able to analyse and explain your figures properly to answer any questions that may arise when reviewing your public data.
This takes public CbCr one step closer to being introduced within the EU. This decision will require you to publicly report your CbC figures per country for all entities within the European Union. For all entities outside of European reporting it is proposed that a disclosure is made on an aggregated level. Since the figures included in the CbC reporting are high level figures, the KPIs and conclusions you can derive from that reporting may be incomplete and raise questions, and it may therefore be even more important for your group to analyse the CbC figures in greater detail. This may entail collecting additional figures and calculating KPIs which are more suited to explain the figures for your group properly. This may be important to do in advance of publishing the figures to prepare for any questions that journalists and other interested parties may ask you.
Please read more about the proposal here
Blika provides a comprehensive CbC solution which helps you all the way from collection of data to verification, archiving and conversion to XML, and automates much of your work. In addition, the Blika solution will provide you with a powerful tool to analyse your figures not only from the KPIs derived from the mandatory CbC figures, but also by collecting additional figures and calculating KPIs tailored for your group. The Blika analysis can be made per country, per segment and per entity to make the analysis more refined and help explain your figures better and then present them in charts and graphs.