Financial reporting of European banks H1 2023
Expected credit losses of banks in Europe in a troubled macroeconomic environment – Irish context
GAAP newsletter- December 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.
On 21 December, the IASB officially closed Phase 1 of the Post-implementation Review of IFRS 9 - Classification and Measurement. While the IASB has concluded that IFRS 9 in general meets the objectives of improving the financial information provided on financial instruments, the Board has nevertheless announced some draft amendments, to be issued in the first quarter of 2023.
Beyond the GAAP no.180 - September 2023
In mid-September, 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.
Beyond the GAAP no.179 - June - August 2023
On 31 July, 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 responses (more than 600)...
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