Internationale nieuwsbrieven
Bent u internationaal actief? Dan kan de internationale wet- en regelgeving ook impact op uw onderneming hebben. De Forvis Mazars Groep publiceert regelmatig over relevante ontwikkelingen op uw vakgebied. Hieronder kunt u de publicaties lezen.
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.
Beyond the GAAP no. 194 - 2025
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 newsletter.
Publication ‘Dutch GAAP versus IFRS Accounting Standards’
With our publication Dutch GAAP versus IFRS Accounting Standards we provide insight into the financial reporting provisions in the Netherlands (Dutch GAAP) and the main similarities and differences with IFRS Accounting Standards for annual periods beginning on or after 1 January 2025.
Beyond the GAAP no. 193 - 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.
Beyond the GAAP no. 192 - 2024
With a few weeks to go until the 2024 year-end, the European market regulator, ESMA, has published its recommendations for 2024 reporting. These cover both IFRS Accounting Standards financial reporting and the first ESRS sustainability statements. This issue includes special features on both sets of recommendations.
Beyond the GAAP no. 191 - 2024
The IASB continues to be very busy with standard-setting work around the topic of financial instruments, with redeliberations ongoing on the proposed amendments to the provisions on PPA and VPPA contracts, and the launch of a research project on amortised cost measurement. It has also begun new projects to clarify or improve some older standards, publishing an exposure draft to address application questions relating to the equity method (IAS 28) and launching another research project on the statement of cash flows (IAS 7).
Beyond the GAAP no. 190 - 2024
The Corporate Sustainability Due Diligence Directive (CSDDD) has now entered into force following its publication in the Official Journal of the European Union on 5 July 2024. It must be transposed into national law by 26 July 2026. This major new directive, which establishes a corporate due diligence duty, will apply to around 6,000 European companies and around 900 non-EU companies. In other European news, this summer’s publications include an EFRAG study on initial ESRS implementation practices, which welook at in detail in a feature in this issue.
Beyond the GAAP no. 189 - 2024
At the end of May 2024, the IASB published amendments to IFRS 9 and IFRS 7 on the classification and measurement of financial instruments, which are mandatory for financial periods commencing on or after 1 January 2026. In this issue, we look in detail at the content of these amendments, which introduce some changes and clarifications relating to financial liabilities settled using an electronic payment system, financial assets with contingent payment features, financial assets with non-recourse features, and contractually linked financial assets. They also require additional disclosures to be presented in the notes.
Beyond the GAAP no. 188 - 2024
In May 2024, EFRAG issued some important documents to support large entities that are required to publish a sustainability statement under ESRS. EFRAG had first issued a compilation of explanations provided to stakeholders in response to questions posed on the Q&A platform opened last October. In addition to reproducing some of the answers already published, this compilation includes 44 new explanations on sometimes sensitive technical issues, such as how to determine the metrics required by ESRS.
Beyond the GAAP no. 187 - 2024
On 9 April 2024, the IASB published IFRS 18 – Presentation and Disclosure in Financial Statements, the new standard that will replace the current IAS 1 –Presentation of Financial Statements. This standard, the culmination of the Primary Financial Statements (PFS) project initiated in 2015, aims to improve the comparability, quality and transparency of financial information for users of financial statements. It will apply retrospectively to reporting periods beginning on or after 1 January 2027 at the latest (subject to endorsement by the European Union, earlier application will be possible). Given the structural changes it introduces, we believe it is important to pay immediate attention to this new standard in order to anticipate the necessary changes to internal systems and processes for producing financial statements and, perhaps, to rethink the way in which financial performance is reported.