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FinlandSuomen Tilintarkastajat ry

Finnish SMEs urged to build on VSME for July reporting standard

Finnish accounting and business specialists recommend preparing sustainability data before tenders arrive; the Commission’s standard retains VSME’s basic and comprehensive modules.

By Taxxa AI OyPublished 4 August 2026

Accounting & Reporting

Finnish SMEs should prepare sustainability information before customers request it in tenders and build on work already done under VSME, according to an opinion article by specialists from Suomen Tilintarkastajat and Keskuskauppakamari. Their recommendation concerns the voluntary sustainability reporting standard adopted by the European Commission on 3 July 2026Tilintarkastajat, which they say largely follows the existing SME framework.

Elina Sonninen and Jussi Hakanen argue that one standardised report can answer different information requests while allowing a company to develop reporting in stages. They encourage businesses that have already used VSME to carry that work forward, and other SMEs to start preparing information before it is needed in competitive procurement. Their article was originally published in Kauppalehti on 22 July 2026.

The Commission’s accompanying staff assessment confirms continuity, while identifying targeted changes. The voluntary standard retains VSME’s basic and comprehensive modules, without adding datapoints or modules. Adjustments align it with the revised European Sustainability Reporting Standards and clarify presentation. Existing VSME work therefore provides a starting point, but advisers should check those adjustments when preparing a report under the July standard.

The Finnish authors say reporting under the voluntary standard does not require external assuranceTilintarkastajat. They nevertheless suggest that an SME may benefit from help from a sustainability reporting auditor or another outside professional. They distinguish the auditor’s specialist reporting knowledge and assurance qualification from the company’s decision to obtain assistance.

The commercial argument extends beyond compliance. The authors describe sustainability information as increasingly important for staying in supply chains and for financiers assessing and pricing environmental, human-rights and governance risks. They present reliable, comparable data as an investment in competitiveness, decision-making and trust, rather than a guarantee of winning business.

Advisers should also distinguish adoption from legal commencement. In its July announcement, the Commission said the standards would undergo a two-month scrutiny period, extendable by two months; its implementing-acts page says the voluntary-standard regulation is not in force until publication in the Official Journal. The July adoption date should therefore not be treated as the date a new reporting obligation began for SMEs.

The legal instrument is the Commission Delegated Regulation of 3 July 2026 supplementing Directive 2013/34/EU by establishing sustainability reporting standards for voluntary use by undertakings protected by the value chain capEuropa.

Check an SME client’s existing VSME work against the July standard’s targeted changes and prepare its sustainability information before tender requests arrive.

Sources