Beyond the GAAP no. 199 – May 2025
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Beyond the GAAP no. 199 – May 2025
As we approach the half-yearly closing of accounts for 2025, Beyond the GAAP presents our traditional overview of the standards and interpretations published by the IASB, indicating where they are in the EU endorsement process. We highlight those texts that are now mandatory and those for which early application is permitted at this closing date.
This closing is likely to be a tense time, not because of the new mandatory texts (the amendments to IAS 21 on lack of exchangeability are limited in scope), but because of the unstable global macroeconomic environment and the resulting uncertainties. The United States’ new tariff policy, which has involved a rapid succession of decisions and U-turns, combines with ongoing risks such as the war in Ukraine, geopolitical tensions, supply chain disruptions, inflation and high interest rates, to cause an unusually high level of uncertainty.
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