Company law and accounting

Legislation - IFRS-standards

International Financial Reporting Standards (IFRS) are standards, interpretations and the framework adopted by the International Accounting Standards Board (IASB).

IFRS are considered a "principles based" set of standards in that they establish broad rules as well as dictating specific treatments.

All European companies that are publicly traded must use International Financial Reporting Standards (IFRS) when preparing their consolidated financial statements.

Objectives on gender composition

Recommendations on corporate governance

The recommendations on Corporate Governance are aimed primarily at Danish companies whose shares are admitted to trading on a regulated market. The objective is that the recommendations are appropriate for such companies and comply with Danish and EU company law etc., OECD’s Principles of Corporate Governance and recognised best practice.

The recommendations are based on, and supplement, company law and stock exchange regulation, and such rules and regulations are presumed known.

The recommendations or parts hereof may provide inspiration for non-publicly traded companies. For example state-owned companies, other companies of special public interest and certain companies owned by funds.

The recommendations enable the individual company to organise its governance optimally in accordance with the ‘comply or explain’ principle. Thus, non-compliance is not inconsistent with the spirit of the recommendations, but merely a result of the fact that the company has chosen a different approach.

Legislation regarding companies

While these translations were carried out by a professional translation agency, the text is to be regarded as an unofficial translation based on the official Acts.

Only the Danish documents have legal validity.