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 on sometimes sensitive technical issues, such as how to determine the metrics required by ESRS.
| 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. |
Our support
We do trust the above points are notable and sufficient, but should you have any questions or need a deeper discussion on this issue, please do not hesitate to contact us.
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Huyen Nguyen Managing Partner, Head of Outsourcing
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...