Newsletter "Beyond the GAAP" | Issue no. 207 (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 until 19 March 2027 to transpose these new rules into national law. This month, Forvis Mazars has published two guides aimed at helping EU and third-country organisations to understand the revised CSRD and its impacts (see European Highlights in this issue of Beyond the GAAP).

The European Union has also adopted IFRS 18 – Presentation and Disclosure in Financial Statements, which replaces IAS 1 and will be mandatory for financial periods commencing on or after 1 January 2027. ESMA (the European Securities and Markets Authority) encourages issuers to start thinking about transition as soon as possible, and draws their attention to the interaction between the concept of “management-defined performance measures” set out in IFRS 18 and ESMA’s existing guidelines on alternative performance measures (APMs).

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