Beyond the GAAP No. 195 - January 2025
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Beyond the GAAP No. 195 - January 2025
As companies subject to the reporting obligations of the CSRD (Corporate Sustainability Reporting Directive) in 2025 prepare to publish their first sustainability statements in accordance with ESRS standards, the new European Commission's roadmap for the next five years, referred to as a "compass" for EU competitiveness, aims in particular to reduce the regulatory and administrative burden on companies. The CSRD, the Taxonomy Regulation and the CSDDD (Corporate Sustainability Due Diligence Directive) should be affected by the announced simplification shock. The so-called "omnibus" proposal will be known on February 26.
On the financial reporting side, the subject of the cash flow statement should now be at the heart of the concerns of the international standard setter. The IASB has indeed initiated the first discussions on this project, launched as part of the 3rd public consultation on its work program for 2022-2026, particularly in the context of the recent publication of IFRS 18.
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Vinh Bui Partner, Audit & assurance
Beyond the GAAP no.188 - May 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 stakeholders in response to questions posed on the Q&A platform opened last October. In addition to reproducing some of the answers already published, this compilation includes 44 new explanations...
Beyond the GAAP no.187 – April 2024
On 9 April 2024, the IASB published IFRS 18 – Presentation and Disclosure in Financial Statements, the new standard that will replace the current IAS 1 –Presentation of Financial Statements. This standard, the culmination of the Primary Financial Statements (PFS) project initiated in 2015, aims to improve the comparability, quality and transparency of financial information for users of financial statements....
Beyond the GAAP no.186 - March 2024
In last month’s issue, we looked at the three main topics covered by the draft amendments to IAS 32, IFRS 7 and IAS 1, as set out in the Financial Instruments with Characteristics of Equity (FICE) exposure draft. In this issue, we present the Board’s proposals on the other seven topics, including contingent settlement provisions, shareholder decisions and reclassification of financial instruments...