Beyond the GAAP no.197 - March 2025
On 3 April, the European Parliament approved the Commission’s proposed “Stop the clock” directive, which is being fast-tracked through the legislative process and will postpone mandatory sustainability reporting for wave 2 and 3 companies by two years. As it has already been endorsed by the EU Council, the directive is now expected to be published in the OJEU by late April or early May. Readers will remember that Member States will then have until 31 December to transpose the directive into national law.
IFRS highlights:
- Post-implementation Review of IFRS 16 – preparing for the RFI
- EC officially mandates EFRAG with simplification of ESRS Set 1
- PSF publishes report on streamlining sustainable finance for SMEs and developing an SME reporting framework
- EFRAG and CDP publish correspondence mapping between ESRS E1 and CDP question bank
The disclosures presented are not exhaustive as the IASB publications and its advisory bodies but intend to emphasize the main highlights.
We hope that this Forvis Mazars Newsletter will be useful, according to the reality and needs of each one, and enables to alert readers to the topics mentioned.
