The European Union has announced that it is to undertake a formal consultation on the desirability of country-by-country reporting.

The consultation website is to be found here — and is based on online responses to a questionnaire.

As creator of the country-by-country reporting concept I am, of course, delighted that the EU has taken this step.

And I would, of course, encourage people to participate, positively.

I will, no doubt blog on this several times during the consultation period — which closes on 22 December. But for now this is another big step forward for this important concept. And I thank all those involved who have campaigned for it.