Beyond the GAAP no. 200 – June 2025
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Beyond the GAAP no. 200 – June 2025
In June, the IASB has published a Request for Information (RFI) as part of its Post-implementation Review of IFRS 16 – Leases. This will assess whether the standard is generally functioning as expected and does not incur undue costs, and will identify any potential amendments to be made. The comment period is open until 15 October 2025.
In addition, EFRAG submitted a progress report to the European Commission on 20 June, providing an update on the work currently being carried out to revise the first set of the European Sustainability Reporting Standards (ESRS). The report identifies six key levers for simplification of the standards, which should reduce the number of data points by more than 50%. Finally, we note that the Commission has granted EFRAG an additional month to submit its technical advice, pushing back the deadline to 30 November. This in turn has enabled EFRAG to extend the public consultation on its exposure drafts to 60 days, and it is now scheduled for late July to late September.
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