Beyond the GAAP - our monthly newsletter on financial and sustainability reporting

Beyond the GAAP no. 207 – February 2026

On 26 February 2026, exactly one year after the European Commission adopted its “Omnibus I” package of measures to simplify sustainability reporting requirements, the “Content” directive has been published in the Official Journal of the European Union. This directive amends the CSRD on sustainability information to be provided by companies and the CSDDD on due diligence. The EU member states now have...

Beyond the GAAP no. 206 – January 2026

This month, the IASB approved updates to six agenda decisions of the IFRS IC, a move made necessary by the application of IFRS 18 as of 1 January 2027, which will replace IAS 1. Regarding the Committee’s recommendation to withdraw the Agenda Decision “Supply Chain Financing Arrangements—Reverse Factoring”, the IASB decided to defer its decision, and will undertake targeted outreach to identify any...

Beyond the GAAP no. 205 – December 2025

This month, regulatory developments in the field of sustainability were marked by the final adoption, by the European co legislators, of a compromise text on the ‘Content’ Directive. This is part of the Omnibus I package, aimed at simplifying CSRD requirements on sustainability reporting and the CSDDD on due diligence.

Beyond the GAAP no. 204 – November 2025

This month, sustainability reporting has been the focus of much of the news. On 3 December, after several months of intense work involving all stakeholders, EFRAG submitted its technical advice on the revised draft European Sustainability Reporting Standards (ESRS) to the European Commission (EC). The EC must now take this into account in order to produce a new delegated act on ESRS (“Set 2”), replacing...

Beyond the GAAP no. 203 – October 2025

As we approach year-end 2025, Beyond the GAAP presents our traditional summary of the IASB texts in force at 31 December 2025, as well as an overview of ESMA’s priorities for this year’s closing of accounts. Given the uncertainties arising from the current economic and geopolitical environment, the regulator emphasises the need for transparent communication on significant judgements and estimates,...

Beyond the GAAP no. 202 – September 2025

This month, the IASB has discussed a number of projects: targeted amendments to IAS 37, the equity method, FICE (Financial Instruments with Characteristics of Equity), the statement of cash flows, and amortised cost measurement. It should also be noted that the new standard on the presentation of financial statements (IFRS 18), though not yet mandatory, is already under discussion: the IFRS Interpretations...

Beyond the GAAP no. 201 – July-August 2025

This summer has seen significant progress on the work to simplify European sustainability reporting standards through the Omnibus I package proposals.

Beyond the GAAP no. 200 – June 2025

The whole editorial team is extremely proud and delighted to announce that Forvis Mazars Partner Claire Dusser has been appointed by the IFRS Foundation as a new member of the IFRS Interpretations Committee (IFRS IC). She will serve a three-year term from 1 July 2025.

Beyond the GAAP no. 199 – May 2025

As we approach the half-yearly closing of accounts for 2025, Beyond the GAAP presents our traditional overview of the standards and interpretations published by the IASB, indicating where they are in the EU endorsement process. We highlight those texts that are now mandatory and those for which early application is permitted at this closing date.

Beyond the GAAP no. 198 – April 2025

Following the publication in the EU Official Journal of the "Stop the clock" Directive on 16 April, European entities in "waves 2 and 3" are now certain that they will not have to publish sustainability information for the 2025 and 2026 financial reporting periods. The Directive must now be transposed before 31 December. Regarding the ongoing negotiations on the draft "Content" Directive, the positions...

Beyond the GAAP no. 197 – March 2025

On 3 April, the European Parliament approved the Commission’s proposed “Stop the clock” directive, which is being fast-tracked through the legislative process and will postpone mandatory sustainability reporting for wave 2 and 3 companies by two years. As it has already been endorsed by the EU Council, the directive is now expected to be published in the OJEU by late April or early May. Readers will...

Beyond the GAAP no. 196 – February 2025

On 26 February, the European Commission presented its simplification proposals as part of the first “Omnibus” package, aiming to reduce the administrative burden on companies, particularly due to the CSRD and the EU Taxonomy Regulation. These proposals mark the beginning of a long legislative process that could significantly shift corporate sustainability reporting by introducing new thresholds, a...

Beyond the GAAP no. 195 – January 2025

As companies subject to the reporting requirements of the Corporate Sustainability Reporting Directive (CSRD) in 2025 prepare to publish their first sustainability statements in accordance with ESRS, the European Commission has published the Competitiveness Compass for the EU, its roadmap for the next five years. The Compass aims among other things to reduce the regulatory and administrative burden...

Beyond the GAAP no. 194 – December 2024

Happy New Year from the Beyond the GAAP editorial team! The year 2024 concluded with the publication of targeted amendments to IFRS 9 and IFRS 7, aimed at contracts referencing nature-dependent electricity, often structured as PPAs (Power Purchase Agreements) or VPPAs (Virtual Power Purchase Agreements). These eagerly awaited amendments are detailed in this issue.

Beyond the GAAP no. 193 – November 2024

As 2024 year-end closing approaches, Beyond the GAAP presents our traditional overview of the texts published by the IASB, taking account of their endorsement process at European level. We have identified those texts that are mandatory, as well as those that are optional at this year-end.

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