International Mazars newsletters
ServicesAudit & assuranceCorporate reportingAudit & accounting advisory
International Mazars newsletters
Are you active internationally? Then international laws and regulations could also have an impact on your business. The Mazars Group publishes regularly on relevant developments in your field. Below you can read the publications.
Beyond the GAAP 2023 - no. 177
As the half-yearly reporting period draws to a close, Beyond the GAAP brings you the list of texts published by the International Accounting Standards Board (IASB), including the IAS 12 amendments taking account of OECD's Pillar Two and the amendments to IAS 7 and IFRS 7 relating to supplier finance arrangements, both published in May 2023. The list indicates whether these texts are mandatory or optional, depending on the progress of the European endorsement process.
Beyond the GAAP 2023 - no. 176
Less than six months after launching the standard-setting project, the International Accounting Standards Board (IASB) seems well on the way to finalising the amendments to IAS 12 – Income Taxes that will introduce a temporary exception to the recognition of deferred taxes resulting from the implementation of the OECD Pillar Two rules. The IASB acknowledged the timely and helpful feedback from stakeholders on its proposed amendments and, at the end of a supplementary meeting dedicated to the project, finally elected to simplify the disclosure requirements compared with its initial proposal. This was arguably the most practical solution to ensure rapid finalisation of the amendments, which was important to all stakeholders.
Beyond the GAAP 2023 - no. 175
With the first requirements of the Corporate Sustainability Reporting Directive (CSRD) coming into effect from 1 January 2024, some questions have arisen in the short term regarding the content of the European Sustainability Reporting Standards (ESRS) that companies must apply in this context. The European Commission (EC) has recently stated that it plans to reduce the reporting burden on companies by 25% by the autumn. This covers all reporting, not solely sustainability information, but no further details have been provided as yet on how this will be achieved.
Beyond the GAAP 2023 - no. 174
At its monthly meeting in February 2023, the International Accounting Standards Board (IASB) continued its discussions on the Financial Instruments with Characteristics of Equity project (FICE) and reached a number of tentative decisions, which we discuss in detail in this issue. Readers will recall that this project, based on a discussion paper published in June 2018, is intended to clarify the principles of IAS 32 – Financial Instruments: Presentation, to address the issues of its practical application and to improve disclosures. The exposure draft is expected in the second half of 2023
Beyond the GAAP - Jan 2023
With the Corporate Sustainability Reporting Directive (CSRD) coming into effect on 5 January 2023, EU countries can now begin the work of transposing it into national law. In practice, the member states have until 6 July 2024 to transpose the CSRD and to specify certain requirements of the new directive, which some large companies will have to apply from 1 January 2024.
Beyond the GAAP - Dec. 2022
As 2022 gives way to 2023, the whole editorial team at Beyond the GAAP would like to wish you all the best for the coming year! While there will probably still be much to discuss on the accounting front, there is sure to be even more activity in terms of sustainability reporting, both at European and international level. In particular, the European Commission is expected to endorse the delegated acts on sector-agnostic ESRS by 30 June 2023.
Publication ‘Dutch GAAP versus IFRS’: similarities and differences
10 January 2023 - At the end of 2020, we published our first edition of 'Dutch GAAP versus IFRS'. In the meantime we have published a second edition of this publication. With this publication we provide insight into the reporting rules in the Netherlands (Dutch GAAP) and the main similarities and differences with International Financial Reporting Standards (IFRS) for annual periods beginning on or after 1 January 2023.
Beyond the GAAP - Nov. 2022
As 2022 year-end closing approaches, we present our traditional overview of the new standards and amendments applicable at 31 December 2022. Once again, no major new standards have been published this year, but disclosures are required on the impact of standards issued by the IASB but not yet effective, particularly for insurers in view of the entry into force of IFRS 17 –Insurance Contracts on 1 January 2023.
Beyond the GAAP - October 2022
On 28 October 2022, the EU’s financial markets regulator (ESMA) published its European Common Enforcement Priorities for the annual financial and non-financial reporting for 2022.
Beyond the GAAP - September 2022
In September 2022, the IASB issued amendments to IFRS 16 – Leases to clarify the subsequent measurement of a lease liability arising from sale and leaseback transactions where the lease payments are variable and not dependent on an index or rate. As requested by stakeholders, the IASB has ultimately provided no clarification on how to measure the proportion of the seller-lessee's retained interest in the asset. This issue of Beyond the GAAP presents the details of this amendment, which has been expected for several months.