Beyond the GAAP no.196 - february 2025
On 26 February, the European Commission presented its simplification proposals as part of the first “Omnibus” package, aiming to reduce the administrative burden on companies, particularly due to the CSRD and the EU Taxonomy Regulation. These proposals mark the beginning of a long legislative process that could significantly shift corporate sustainability reporting by introducing new thresholds, a new implementation timeline, and new standards.
IFRS highlights:
- ISSB update January 2025 – Proposed amendments to IFRS S2
- Use of the Global Industry Classification Standard (GICS)
- Publication by the PSF of recommendations for the simplification of the European Taxonomy
- Appointment of a Trustee of the IFRS Foundation and of the Chair of the IFRS Advisory Council
The disclosures presented are not exhaustive as the IASB publications and its advisory bodies but intend to emphasize the main highlights.
