Beyond the GAAP no. 195 - 2025
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Beyond the GAAP no. 195 - 2025
As companies subject to the reporting requirements of the Corporate Sustainability Reporting Directive (CSRD) in 2025 prepare to publish theirfirst 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 for companies. This ‘unprecedented simplification effort’ should affect the CSRD, the Taxonomy Regulation and the Corporate Sustainability Due Diligence Directive (CSDDD). The related ‘Omnibus proposal’ should be known on 26 February 2025.
On the financial reporting front, the statement of cash flows will be a key topic going forward for the International Accounting Standards Board (IASB). The international standard-setter has started discussions on the statement of cash flows and related matters project, which was launched following the third public consultation on its work plan for 2022-2026, with a particular focus on the impact of the new IFRS 18 Presentation and Disclosure in Financial Statements standard.
Want to know more?
Inge van Sloun Director
Audit & accounting advisory
The International Financial Reporting Standards (IFRS) are constantly under development. Complying with the standards, following the latest developments and analysing their possible impact can be an enormous challenge. Are you looking for expertise to help you with this? If so, you have found the right people at Forvis Mazars.