As the half-yearly reporting period draws to a close, Beyond the GAAP brings you the list of texts published by the IASB, including the IAS 12 amendments taking account of OECD's Pillar Two and the amendments to IAS 7 and IFRS 7 relating to supplier finance arrangements, both published this month. The list indicates whether these texts are mandatory or optional, depending on the progress of the European...
In mid-September, the European Commission (EC) launched a consultation on a draft delegated act that proposes to increase by 25% the size criteria set out in the Accounting Directive to classify undertakings and groups into different categories (micro, small, medium and large), in order to reflect inflation over the past ten years.
On 31 July, only three weeks after the end of the public consultation on the draft delegated act, but a month behind the schedule set by the Corporate Sustainability Reporting Directive (CSRD), the European Commission adopted the final regulation on the first set of European Sustainability Reporting Standards (ESRS), after making a few last-minute changes based on the responses (more than 600) received....
Almost seven months after EFRAG submitted the first drafts of the European Sustainability Reporting Standards (ESRS), and two months later than initially announced, the European Commission (EC) published the amended versions of these standards on 9 June via a draft delegated act. The uncertainties surrounding the nature of the changes introduced by the EC have now been resolved! In this issue, Beyond...
Less than six months after launching the standard-setting project, the IASB seems well on the way to finalising the amendments to IAS 12 that will introduce a temporary exception to the recognition of deferred taxes resulting from the implementation of the OECD Pillar Two rules. The IASB acknowledged the timely and helpful feedback from stakeholders on its proposed amendments and, at the end of a...
With the first requirements of the Corporate Sustainability Reporting Directive (CSRD) coming into effect from 1 January 2024, some questions have arisen in the short term regarding the content of the European Sustainability Reporting Standards (ESRS) that companies must apply in this context. The European Commission (EC) has recently stated that it plans to reduce the reporting burden on companies...
On 22 June, and after political negotiations, the European Council and Parliament reached a provisional agreement on a slightly revised version of the European Commission's initial proposal for a Corporate Sustainability Reporting Directive (CSRD), published in April 2021.
With the Corporate Sustainability Reporting Directive (CSRD) coming into effect on 5 January 2023, EU countries can now begin the work of transposing it into national law.
At its monthly meeting in February 2023, the IASB continued its discussions on the Financial Instruments with Characteristics of Equity project (FICE) and reached a number of tentative decisions, which we discuss in detail in this issue.
On 28 October, the EU’s financial markets regulator, ESMA, published its European Common Enforcement Priorities for the annual financial and non-financial reporting for 2022.
Each month, the newsletter Beyond the GAAP aims at keeping readers informed of financial and sustainability reporting developments.
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The following article featured in the Irish Times September 2024 special report on Corporate Finance. Author Paul Rickard is a Director in our Corporate Finance team with over 12 years’ experience working in the Corporate Finance and Corporate Banking sectors.
The following article featured in the Irish Times September 2024 special report on Corporate Finance. Author Paul Rickard is a Director in our Corporate Finance team with over 12 years’ experience working in the Corporate Finance and Corporate Banking sectors.
With only hours to go before Budget 2025 is announced, it brings with it important changes that will impact the business landscape in Ireland. Finance Minister Jack Chambers is set to present his first budget, while Paschal Donohoe continues to refine public spending. With €6.9 billion allocated for new spending, including critical investments in key sectors, there is much to consider for business...
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