International Mazars newsletters
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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 no. 185 - 2024
At the end of 2023, we reported the publication of an IASB exposure draft of proposed amendments to IAS 32, IFRS 7 and IAS 1 on the classification of financial instruments with characteristics of equity (FICE). In this issue, we present the IASB's proposals on three of the topics covered by these amendments: how to account for rights and obligations arising from legal or regulatory requirements, instruments that are settled in the entity's own equity instruments and obligations requiring the entity to purchase its own equity instruments (including puts on non-controlling interests). These proposals are sure to prompt reactions from stakeholders.
Beyond the GAAP no. 184 - 2024
Last month, sustainability reporting has again dominated the news, with the provisional agreement from the European Parliament to delay Commission adoption of the next sets of ESRS (namely sector-specific ESRS and ESRS for non-EU groups) by two years, i.e. by 30 June 2026 instead of 30 June 2024 as initially indicated in the Corporate Sustainability Reporting Directive (CSRD). Sector-specific standards in eight areas will nonetheless be published as soon as they are ready with respect to high-impact sectors. In January 2024, EFRAG also issued its proposals regarding an ESRS for listed SMEs and a voluntary standard for non-listed SMEs.
Beyond the GAAP no. 183 - 2023 / 2024
Happy New Year from everyone at Beyond the GAAP! The IASB work plan alone suggests that this new year will be a busy one on the accounting front. But the biggest new development in 2024 will be initial application of the European Sustainability Reporting Standards (ESRS), for the first companies falling within the scope of the Corporate Sustainability Reporting Directive (CSRD) – i.e. large undertakings that are public-interest entities and that have more than 500 employees, as per the Accounting Directive.
Beyond the GAAP no. 182 - 2023
As 2023 year-end closing approaches, we present our traditional overview of the IFRS Accounting Standards and IFRIC Interpretations recently published by the IASB, taking account of their endorsement process at European level. This includes the latest developments concerning the European Union's endorsement of the amendments to IAS 12 – Income Taxes relating to OECD Pillar Two and the amendments to IFRS 16 – Leases on lease liabilities arising from sale and leaseback transactions. The overview also indicates which texts are mandatory and which are optional for this reporting period.
Beyond the GAAP no. 181 - 2023
At the end of October 2023, the European Securities and Markets Authority (ESMA) published its common priorities at European level for the 2023 reporting period.
Publication ‘Dutch GAAP versus IFRS Accounting Standards’: similarities and differences
November 2023 - With the publication of our third edition of Dutch GAAP versus IFRS Accounting Standards we provide insight into the reporting provisions in the Netherlands (Dutch GAAP) and the main similarities and differences with IFRS Accounting Standards for annual periods beginning on or after 1 January 2024.
Beyond the GAAP no. 180 - 2023
In mid-September 2023, the European Commission (EC) launched a consultation on a draft delegated act that proposes to increase by 25% the size criteria set out in the Accounting Directive to classify undertakings and groups into different categories (micro, small, medium and large), in order to reflect inflation over the past ten years. This change in the thresholds, presented as part of a plan to increase the competitiveness of EU companies, would reduce the number of undertakings affected by the obligation to present and publish
financial statements and by the requirements on sustainability reporting introduced by the Corporate Sustainability Reporting Directive (CSRD).
financial statements and by the requirements on sustainability reporting introduced by the Corporate Sustainability Reporting Directive (CSRD).
Beyond the GAAP no. 179 - 2023
On 31 July 2023, only three weeks after the end of the public consultation on the draft delegated act, but a month behind the schedule set by the Corporate Sustainability Reporting Directive (CSRD), the European Commission adopted the final regulation on the first set of European Sustainability Reporting Standards (ESRS), after making a few last-minute changes based on the received responses (more than 600).
Beyond the GAAP no. 178 - 2023
Almost seven months after EFRAG submitted the first drafts of the European Sustainability Reporting Standards (ESRS), and two months later than initially announced, the European Commission (EC) published the amended versions of these standards on 9 June 2023 via a draft delegated act. The uncertainties surrounding the nature of the changes introduced by the EC have now been resolved. In this issue, Beyond the GAAP presents the most significant changes to EFRAG's draft standards.
Beyond the GAAP no. 177 - 2023
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.