Beyond the GAAP no.192 - October 2024
With a few weeks to go until the 2024 year-end, the European market regulator, ESMA, has published its recommendations for 2024 reporting. These cover both IFRS financial reporting and the first ESRS sustainability statements. This issue includes special features on both sets of recommendations.
Also in this issue, we look in more detail at the exposure draft on the equity method, published by the IASB last September. The aim of the exposure draft is to clarify specific aspects of accounting treatment, rather than to carry out a fundamental review of the principles of the equity method. It also proposes amendments to certain controversial aspects of IAS 28.
IFRS highlights:
- IASB concluded redeliberations on the proposed amendments to IFRS 9 and IFRS 7 on contracts for renewable electricity (PPAs and VPPAs)
- IASB seeks input from stakeholders on intangible assets project
- Eleventh compilation of IFRS IC agenda decisions published
- Updates to the SASB Standards XBRL Taxonomy
- ESMA publishes guidance on accounting for carbon allowances
- ESMA publishes report on first-time application of IFRS 17 – Insurance Contracts
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.
