Beyond the GAAP no. 166 - May 2022
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Beyond the GAAP no. 166 - May 2022
As we approach the half-yearly closing of accounts, Beyond the GAAP presents a snapshot of the new standards and interpretations applicable from 1 January 2022 (both mandatory and optional). In addition to this overview, we bring you a summary of the ESMA recommendations published on 13 May. The European Securities and Markets Authority has identified the key issues to address in the interim financial statements in the context of Russia’s invasion of Ukraine. ESMA has also published specific recommendations on the forthcoming implementation of IFRS 17 – Insurance Contracts.
As promised, Beyond the GAAP will also take a closer look this month at the draft sustainability standards published by both the ISSB (one on general disclosure requirements, the other on climate-related disclosure requirements) and EFRAG (13 draft standards, including two cross-cutting standards and 11 topical standards on ESG issues). We present a comparative analysis of the main proposals in the draft standards.
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