Belgium

EFRAG released a draft XBRL taxonomy for the revised ESRS and opened consultation until 11 November. The taxonomy is intended to provide the technical basis for machine-readable sustainability disclosures and is planned for submission to ESMA and the European Commission by year-end.

EFRAG appointed three new members and extended the mandates of the chairs of its Sustainability Reporting and Financial Reporting Technical Expert Groups. The appointments support continuity across major ESRS and financial-reporting projects.

EFRAG launched a cost-benefit survey for its exposure draft ESRS for certain non-EU undertakings under Article 40a of the Accounting Directive. The exercise will inform assessment of costs and benefits for non-EU groups potentially falling within the EU sustainability-reporting framework.

PAO: Instituut van de Bedrijfsrevisoren - Institut des Réviseurs d'Entreprises (IBR-IRE) · ~600 registered audit firms · ~1070 registered auditors · IFIAR member. BAOB oversees statutory auditors (réviseurs d'entreprises). Institut des Réviseurs d'Entreprises (IRE/IBR) is the PAO for registration

Large PIEs (Wave 1); scope narrowed by Omnibus I · FY 2024 (Wave 1)

IFAC member · Accountancy Europe · Founded 1953

IFAC member · Accountancy Europe · Founded 2020

All limited companies (NV/SA, BV/SRL, CV, etc.); associations above threshold · Annual accounts publicly downloadable; standard + abbreviated formats

• Accountant: $38,735 a year (modelled estimate)
• External auditor: $53,391 a year (modelled estimate)
• Average for all jobs: $52,344 a year

Modelled values use global occupational multipliers; use as directional estimates.

Gross pay in nominal US dollars (2026), not adjusted for living costs.

• Evidence: Direct evidence — the selected source reports this issue directly
• Scope: Internal audit

IIA Belgium identifies staffing and skills allocation as an urgent concern for internal audit functions.

Source: Creative Audit Resourcing: How To Deal With Resourcing Challenges | IIA Belgium (professional body)

Information Center for the Audit Profession (ICCI), in association with IBR-IRE · Sustainability report; annual report including sustainability statements · Any organisation active in Belgium publishing a sustainability report or annual report with sustainability statement; CSRD and non-CSRD categories

GDP per capita (current US$), 2025 · High income · over $14,005

Printed bookkeeping manuals helped carry the Venetian method into the major commercial centers of northern Europe during the sixteenth century.

Jan Ympyn Christoffels published an influential work explaining the Venetian system of accounts, later translated into several languages.

The EU adopted Regulation 1606/2002 requiring listed companies to use endorsed IFRS for consolidated accounts from 2005, a decisive step toward global IFRS adoption.

Thousands of EU-listed groups began preparing consolidated financial statements under IFRS, creating the largest coordinated accounting-standard transition in history.

The EU adopted a major statutory audit directive addressing auditor approval, independence, quality assurance and public oversight.

The NFRD introduced mandatory non-financial disclosures for certain large public-interest entities, a major precursor to the EU's later CSRD regime.

The EU adopted a revised Statutory Audit Directive and Audit Regulation, strengthening public oversight, auditor independence and rules for public-interest entities.

The CSRD greatly expanded EU sustainability-reporting requirements and introduced mandatory European Sustainability Reporting Standards and assurance requirements.

The European Commission adopted the first set of European Sustainability Reporting Standards for companies subject to the CSRD.

Companies in the first wave of the CSRD began collecting 2024 sustainability information for reports published in 2025 under ESRS.

The European Commission proposed major changes to sustainability reporting and due-diligence rules aimed at reducing reporting burdens and narrowing scope.