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).
Following the summer break, the IASB began work again in September. It has published an exposure draft on volume 11 of Annual Improvements to IFRS Accounting Standards, and tentatively decided to widen the scope of its project on climate-related risks in the financial statements to include other sources of uncertainty. Meanwhile, the European Financial Reporting Advisory Group (EFRAG), which is the technical advisor to the EC on the European Sustainability Reporting Standards (ESRS), has continued to focus on draft standards for SMEs. On 28 November 2023, EFRAG will hold its annual conference, on the theme, “European Corporate Reporting: two pillars for success”.
Under EU Regulation 2023/1114, Markets in Crypto Assets Regulation (MiCAR) issuers of asset-reference tokens (ARTs) and electronic money tokens (EMTs) must create a redemption plan to ensure orderly token redemption if a competent authority determines the issuer may fail to meet payment obligations.
Nine years on from the Paris Climate Agreement at COP21 (which tried to limit global heating to 1.5C), COP 29 takes place in the hottest recorded year, when that safety limit has already been breached. COP29 runs between 11 - 24 November in Baku, Azerbaijan.
Forvis Mazars M&A team is delighted to have acted as corporate finance adviser on HC Financial’s sale to NFP. HC Financial is one of Ireland’s largest financial planning & advisory firms and the transaction marks a key step in NFP’s ongoing expansion in Ireland.
Independence and rigour that provides confidence and transparency for stakeholders and society.
Sustainability and ESG must be at the heart of every organisation's business model
Transparency builds trust with stakeholders and balanced reporting is required to demonstrate authenticity
Enhancing management oversight and strengthening stakeholder relationships.
Building the future of financial services with forward thinking solutions
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