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. 198 – April 2025
Following the publication in the EU Official Journal of the ‘Stop the clock’ Directive on 16 April, European entities in “waves 2 and 3” are now certain that they will not have to publish sustainability information for the 2025 and 2026 financial reporting periods. The Directive must now be transposed before 31 December. Regarding the ongoing negotiations on the draft ‘Content’ Directive, the positions expressed in the Council and Parliament show, unsurprisingly, that it will not be easy to reach rapid agreement among co-legislators particularly on the scope of the CSRD.
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.
Beyond the GAAP no. 196 – February 2025
On 26 February, the European Commission presented its simplification proposals as part of the first “Omnibus” package, aiming to reduce the administrative burden on companies, particularly due to the CSRD and the EU Taxonomy Regulation. These proposals mark the beginning of a long legislative process that could significantly shift corporate sustainability reporting by introducing new thresholds, a new implementation timeline, and new standards.
Beyond the GAAP No. 194 - December 2024
Happy New Year from the Beyond the GAAP editorial team! The year 2024 concluded with the publication of targeted amendments to IFRS 9 and IFRS 7, aimed at contracts referencing nature-dependent electricity, often structured as PPAs (Power Purchase Agreements) or VPPAs (Virtual Power Purchase Agreements). These eagerly awaited amendments are detailed in this issue.
Beyond the GAAP No. 195 - January 2025
As companies subject to the reporting obligations of the CSRD (Corporate Sustainability Reporting Directive) in 2025 prepare to publish their first sustainability statements in accordance with ESRS standards, the new European Commission's roadmap for the next five years, referred to as a "compass" for EU competitiveness, aims in particular to reduce the regulatory and administrative burden on companies. The CSRD, the Taxonomy Regulation and the CSDDD (Corporate Sustainability Due Diligence Directive) should be affected by the announced simplification shock. The so-called "omnibus" proposal will be known on February 26.