Newsletter "Beyond the GAAP"
A Newsletter "Beyond the GAAP" é publicada mensalmente pela Forvis Mazars. O objetivo deste documento é manter o leitor informado sobre os desenvolvimentos na área da contabilidade.
Beyond the GAAP no.209 - April 2026
This month, the IASB and IFRS IC have continued their work on supporting the implementation of IFRS 18 from 2027 onwards, signing off four new agenda decisions – including an eagerly-awaited decision on the presentation of a foreign exchange difference from an intragroup monetary liability (or asset).
Meanwhile, work on sustainability reporting continues apace, with new initiatives from the ISSB and EFRAG. Notably, the ISSB has agreed a proposed way forward for nature-related disclosures.
Meanwhile, work on sustainability reporting continues apace, with new initiatives from the ISSB and EFRAG. Notably, the ISSB has agreed a proposed way forward for nature-related disclosures.
Beyond the GAAP no.208 - March 2026
The IASB continues to update its accounting standards. Following the publication of IFRS 18 – Presentation and Disclosure in Financial Statements and IFRS 19 – Subsidiaries without Public Accountability, changes are coming for regulated activities with the publication, announced for the second quarter, of IFRS 20 – Regulatory Assets and Regulatory Liabilities. Although the standard has not yet been published, EFRAG is already asking the IASB to postpone its effective date to 1 January 2030.
Beyond the GAAP no.207 - February 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.
Beyond the GAAP no.206 - January 2026
This month, the IASB approved updates to six agenda decisions of the IFRS IC, a move made necessary by the application of IFRS 18 as of 1 January 2027, which will replace IAS 1. Regarding the Committee’s recommendation to withdraw the Agenda Decision “Supply Chain Financing Arrangements - Reverse Factoring”, the IASB decided to defer its decision, and will undertake targeted outreach to identify any specific accounting matters that might arise from withdrawal of the Agenda Decision.
Beyond the GAAP no.205 - December 2025
This month, regulatory developments in the field of sustainability were marked by the final adoption, by the European co-legislators, of a compromise text on the ‘Content’ Directive. This is part of the Omnibus I package, aimed at simplifying CSRD requirements on sustainability reporting and the CSDDD on due diligence.
Beyond the GAAP no.204 - November 2025
This month, sustainability reporting has been the focus of much of the news. On 3 December, after several months of intense work involving all stakeholders, EFRAG submitted its technical advice on the revised draft European Sustainability Reporting Standards (ESRS) to the European Commission (EC). The EC must now take this into account in order to produce a new delegated act on ESRS (“Set 2”), replacing the July 2023 act (“Set 1”), which remains applicable to wave 1 companies for the 2025 financial year.
Beyond the GAAP no.203 - October 2025
As we approach year-end 2025, Beyond the GAAP presents our traditional summary of the IASB texts in force at 31 December 2025, as well as an overview of ESMA’s priorities for this year’s closing of accounts. Given the uncertainties arising from the current economic and geopolitical environment, the regulator emphasises the need for transparent communication on significant judgements and estimates, particularly as regards impairment testing of non-financial assets, recoverability of deferred tax assets, revenue recognition, valuation of inventories, restructuring, and assessment of credit risk.
Beyond the GAAP no.202 - September 2025
This month, the IASB has discussed a number of projects: targeted amendments to IAS 37, the equity method, FICE (Financial Instruments with Characteristics of Equity), the statement of cash flows, and amortised cost measurement. It should also be noted that the new standard on the presentation of financial statements (IFRS 18), though not yet mandatory, is already under discussion: the IFRS Interpretations Committee (IFRS IC) has been asked to rule on the classification of exchange differences on intra-group loans and borrowings.
Beyond the GAAP no.201 - July l August 2025
This summer has seen significant progress on the work to simplify European sustainability reporting standards through the Omnibus I package proposals.
Beyond the GAAP no.200 - June 2025
The whole editorial team is extremely proud and delighted to announce that Forvis Mazars Partner Claire Dusser has been appointed by the IFRS Foundation as a new member of the IFRS Interpretations Committee (IFRS IC). She will serve a three-year term from 1 July 2025.