Beyond the GAAP no.184 - January 2024
This month, sustainability reporting has again dominated the news, with the provisional agreement from the European Parliament to delay Commission adoption of the next sets of ESRS (namely sector-specific ESRS and ESRS for non-EU groups) by two years, i.e. by 30 June 2026 instead of 30 June 2024 as initially indicated in the Corporate Sustainability Reporting Directive. Sector-specific standards in eight areas will nonetheless be published as soon as they are ready with respect to high-impact sectors. In January, EFRAG also issued its proposals regarding an ESRS for listed SMEs and a voluntary standard for non-listed SMEs.
With respect to financial reporting, the IASB continued its deliberations on draft amendments to IFRS 9 and IFRS 7, considering comment letters received.
IFRS highlights:
- IASB deliberations on draft amendments to IFRS 9 and IFRS 7.
- European Parliament provisionally agrees to delay Commission adoption of the next sets of ESRS standards by two years.
- EFRAG publishes exposure drafts of sustainability reporting standards applicable to SMEs.
The disclosures presented are not exhaustive as the IASB publications and its advisory bodies but intend to emphasize the main highlights.
