Beyond the GAAP newsletter
Each month, the newsletter Beyond the GAAP aims at keeping readers informed of financial and sustainability reporting developments.
Latest issues.
Beyond the GAAP No. 182 - November 2023
As 2023 year-end closing approaches, we present our traditional overview of the texts published by the IASB, taking account of their endorsement process at European level. This includes the latest developments concerning the European Union's endorsement of the IAS 12 amendments relating to OECD Pillar Two and the IFRS 16 amendments on lease liabilities arising from sale and leaseback transactions. The study also indicates which texts are mandatory and which are optional for this reporting period.
Beyond the GAAP No. 181 - October 2023
At the end of October, the European Securities and Markets Authority, ESMA, published its common priorities at European level for the 2023 reporting period.
Beyond the GAAP No. 180 - September 2023
In mid-September, the European Commission (EC) launched a consultation on a draft delegated act that proposes to increase by 25% the size criteria set out in the Accounting Directive to classify undertakings and groups into different categories (micro, small, medium and large), in order to reflect inflation over the past ten years. This change in the thresholds, presented as part of a plan to increase the competitiveness of EU companies, would reduce the number of undertakings affected by the obligation to present and publish financial statements and by the requirements on sustainability reporting introduced by the Corporate Sustainability Reporting Directive (CSRD).
Beyond the GAAP No. 179 - July & August 2023
On 31 July, only three weeks after the end of the public consultation on the draft delegated act, but a month behind the schedule set by the Corporate Sustainability Reporting Directive (CSRD), the European Commission adopted the final regulation on the first set of European Sustainability Reporting Standards (ESRS), after making a few last-minute changes based on the responses (more than 600) received.
Beyond the GAAP No. 178 - June 2023
Almost seven months after EFRAG submitted the first drafts of the European Sustainability Reporting Standards (ESRS), and two months later than initially announced, the European Commission (EC) published the amended versions of these standards on 9 June via a draft delegated act. The uncertainties surrounding the nature of the changes introduced by the EC have now been resolved! In this issue, Beyond the GAAP presents the most significant changes to EFRAG's draft standards.