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. 180 - 2023
In mid-September 2023, 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. This change in the thresholds, presented as part of a plan to increase the competitiveness of EU companies, would reduce the number of undertakings affected by the obligation to present and publish
financial statements and by the requirements on sustainability reporting introduced by the Corporate Sustainability Reporting Directive (CSRD).
financial statements and by the requirements on sustainability reporting introduced by the Corporate Sustainability Reporting Directive (CSRD).
Beyond the GAAP no. 179 - 2023
On 31 July 2023, 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 received responses (more than 600).
Beyond the GAAP no. 178 - 2023
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 2023 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 the GAAP presents the most significant changes to EFRAG's draft standards.
Beyond the GAAP no. 177 - 2023
As the half-yearly reporting period draws to a close, Beyond the GAAP brings you the list of texts published by the International Accounting Standards Board (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 in May 2023. The list indicates whether these texts are mandatory or optional, depending on the progress of the European endorsement process.
Beyond the GAAP no. 176 - 2023
Less than six months after launching the standard-setting project, the International Accounting Standards Board (IASB) seems well on the way to finalising the amendments to IAS 12 – Income Taxes 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 supplementary meeting dedicated to the project, finally elected to simplify the disclosure requirements compared with its initial proposal. This was arguably the most practical solution to ensure rapid finalisation of the amendments, which was important to all stakeholders.
Beyond the GAAP no. 175 - 2023
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 by 25% by the autumn. This covers all reporting, not solely sustainability information, but no further details have been provided as yet on how this will be achieved.
Beyond the GAAP no. 174 – 2023
At its monthly meeting in February 2023, the International Accounting Standards Board (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. Readers will recall that this project, based on a discussion paper published in June 2018, is intended to clarify the principles of IAS 32 – Financial Instruments: Presentation, to address the issues of its practical application and to improve disclosures. The exposure draft is expected in the second half of 2023
Beyond the GAAP - January 2023
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. In practice, the member states have until 6 July 2024 to transpose the CSRD and to specify certain requirements of the new directive, which some large companies will have to apply from 1 January 2024.
Beyond the GAAP - December 2022
As 2022 gives way to 2023, the whole editorial team at Beyond the GAAP would like to wish you all the best for the coming year! While there will probably still be much to discuss on the accounting front, there is sure to be even more activity in terms of sustainability reporting, both at European and international level. In particular, the European Commission is expected to endorse the delegated acts on sector-agnostic ESRS by 30 June 2023.
Publicatie ‘Dutch GAAP versus IFRS’: overeenkomsten en verschillen
10 januari 2023 – Eind 2020 publiceerden we onze eerste editie van ‘Dutch GAAP versus IFRS’. We hebben inmiddels een tweede editie opgesteld. Met deze Engelstalige publicatie geven wij inzicht in de verslaggevingsregels in Nederland (Dutch GAAP) en de belangrijkste overeenkomsten en verschillen met de International Financial Reporting Standards (IFRS) voor verslagjaren die aanvangen op of na 1 januari 2023.