Beyond the GAAP no.189 - June 2024
In May, EFRAG issued some important documents to support large entities that are required to publish a sustainability statement under ESRS. EFRAG had first issued a compilation of explanations provided to At the end of May, the IASB published amendments to IFRS 9 and IFRS 7 on the classification and measurement of financial instruments, which are mandatory for financial periods commencing on or after 1 January 2026. In this issue, we look in detail at the content of these amendments, which introduce some changes and clarifications relating to financial liabilities settled using an electronic payment system, financial assets with contingent payment features, financial assets with non-recourse features, and contractually linked financial assets. They also require additional disclosures to be presented in the notes.
IFRS highlights:
- New appointments to IFRS Interpretations Committee.
- ISSB seeks greater harmonization of sustainability disclosure standards.
- EFRAG and TNFD publish correspondence mapping.
- EFRAG publishes initial paper on connectivity considerations and boundaries of different annual report sections.
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 Mazars Newsletter will be useful, according to the reality and needs of each one, and enables to alert readers to the topics mentioned.
