On 13 September 2023, the European Commission published an initiative setting out a draft Delegated Directive that will amend the thresholds in the Accounting Directive for determining the size category of a company to account for the impact of inflation. Since 2013, the size thresholds have remained unchanged. An increase will result in micro, small and medium-sized enterprises not being made subject to many EU financial and sustainability reporting provisions applicable to larger companies. The deadline for feedback to this draft delegated act is 6 October 2023.