Many accountants believe they will offer sustainability reporting as a service offer in few years, says Hans Ellefsen, head of board in NSRS. Photo: CF-Wesenberg/kolonihaven.no

In a recent survey conducted by the Nordic Accountant Federation (NAF), 82% responded that customers do not yet request sustainability reporting. Almost half of the respondents are convinced that the trend will be the opposite within 5 years. 

NAF consists of the Nordic accounting organizations in Sweden, Finland, Denmark, and Norway. The association recently conducted a survey among all its members – Nordic accountants. The goal was, among other things, to uncover the proportion of small and medium-sized enterprises (SMEs) that request sustainability reporting from their accountant. 

– Few SME customers requested sustainability reporting today. It comes as no surprise to us, as the sustainability reporting directive has not yet entered into force. At the same time, we know that small and medium-sized enterprises will soon have to report on sustainability; either due to legal requirements or as a supplier to reporting companies, says Hans Ellefsen, head of board in NSRS. 

Increased demand and simple tools are needed

The demand for expertise in sustainability reporting will come – also from SMEs. The Nordic accountants also believe this. 

– 47% of accountants believe they will offer sustainability reporting as a service within 5 or fewer years. 37% of these believe it will happen within 3 years, says Ellefsen and continues: 

– There are mainly three factors that will make accountants increasingly offer sustainability reporting as a service: 1) Increased demand among customers, 2) legal requirements, and 3) simple tools. NAF has done something about the latter! 

Launches updated tool for sustainability reporting

NAF has now updated the NSRS (Nordic Sustainability Reporting Standard) in line with the draft of the new European standard (VSME ESRS). 

– The updated standard has many similarities with previous versions. The European standard is in fact based, among others, on the NSRS, points out Ellefsen. 

Previously, the NSRS universe consisted of two levels: Entry Level and Level 1. These have now been merged into one standard. 

– Small and medium-sized enterprises and their accountants have now received one standard – and one tool – that makes it easy to report on sustainability in line with existing and future requirements, concludes Ellefsen. 

About the survey

The survey was conducted in the summer of 2024. 624 accountants from Sweden, Denmark, Finland, and Norway have responded.