Beyond the GAAP no.188 - May 2024
EFRAG has also published its first three implementation guidance documents, which address materiality assessment (IG 1), the value chain (IG 2) and the list of datapoints in ESRS (IG 3). EFRAG provides practical explanations through illustrations and examples and clarifies the provisions of the standards on these issues, which are both complex and fundamental to the implementation of ESRS. IG 3 is likely to be particularly useful in determining the disclosures required for the material impacts, risks and opportunities identified, but also in anticipation of the sustainability statement tagging stage.
IFRS highlights:
- IASB publishes amendments to IFRS 9 and IFRS 7.
- Publication of IFRS 19 | Subsidiaries without Public Accountability: Disclosures.
- 10th compilation of IFRS IC agenda decisions.
- Transition to integrated reporting.
- Endorsement of amendments to IAS 7 and IFRS 7 on Supplier finance arrangements.
The disclosures presented are not exhaustive as the IASB publications and its advisory bodies but intend to emphasize the main highlights.
We hope that this Forvis Mazars Newsletter will be useful, according to the reality and needs of each one, and enables to alert readers to the topics mentioned.
