The EU Commission (EC) has published frequently asked questions (FAQs) on the implementation of the Corporate Sustainability Reporting Directive (CSRD). Some of the FAQs also address certain provisions of the first set of European Sustainability Reporting Standards (ESRSs), for which legal interpretation from the EC was deemed necessary.
The European Union has published a Commission Regulation endorsing 'Supplier Finance Arrangements (Amendments to IAS 7 and IFRS 7)' issued by the IASB in May 2023.
The European Commission (EC) has announced a half-day event titled 'Supporting companies in applying the European Sustainability Reporting Standards (ESRS)' on 16 May 2024 in Brussels. Participants can either attend in person or virtually.
The EU Commission (EC) has published a frequently asked questions (FAQ) document to assist financial entities with their reporting about environmental performance of activities under the EU taxonomy.
The European Union has published a Commission Regulation endorsing 'Lease Liability in a Sale and Leaseback (Amendments to IFRS 16)' issued by the IASB in September 2022.
The European Union has published a Commission Regulation endorsing 'International Tax Reform — Pillar Two Model Rules (Amendments to IAS 12)' issued by the IASB in May 2023.
On 24 October 2023, the European Commission launched a two-month consultation on the postponement of the sector-specific European Sustainability Reporting Standards (ESRS) as well as the ESRS for third country companies.
The European Commission (‘Commission’) has published its Work Programme for 2024, which details the list of actions it will take in the coming year. In 2024, the Commission will focus, among the other areas, on reducing reporting burden for companies.
A new consolidated text of all International Financial Reporting Standards in force in the European Union (EU) has been published in the Official Journal.
The European Commission has published a draft delegated act amending the thresholds in the Accounting Directive for determining the size class of corporations. In the draft, the European Commission proposes to raise the thresholds set out in the Accounting Directive by around 25%.
The European Commission has adopted the final delegated regulation supplementing the European Accounting Directive as regards sustainability reporting standards.
Accountancy Europe has commented on the draft delegated regulation regarding sustainability reporting standards released for comment by the European Commission in June 2022. Main points in the response are aligning the European Sustainability Reporting Standards (ESRS) with the ISSB standards before adopting the delegated act and ensuring consistency between ESRS and other EU legislation.
As the global voice of the accountancy profession, the International Federation of Accountants (IFAC) has commented on the draft delegated regulation regarding sustainability reporting standards released for comment by the European Commission in June 2022.
We have commented on the draft delegated regulation supplementing the European Accounting Directive as regards sustainability reporting standards released for comment by the European Commission (EC) in June 2022.
The European Commission has launched a consultation on a draft delegated regulation supplementing the European Accounting Directive as regards sustainability reporting standards.
On 22 November 2022, the European Financial Reporting Advisory Group (EFRAG) submitted its first set of draft European Sustainability Reporting Standards (ESRS) to the European Commission (EC) and began working on Set 2 of the ESRS, which would contain sector-specific standards. EFRAG has now been told to concentrate on providing additional guidance on how to apply the proposed standards in Set 1.
On 25 November 2022, the European Commission requested the European Supervisory Authorities (ESAs) to provide an opinion on the technical advice on the first set of European Sustainability Reporting Standards (ESRS), which the European Financial Reporting Advisory Group (EFRAG) submitted on 22 November 2022.
The European Financial Reporting Advisory Group (EFRAG) has submitted its draft European Sustainability Reporting Standards (ESRS) to the European Commission (EC).
The European Union has published a Commission Regulation endorsing 'Initial Application of IFRS 17 and IFRS 9 — Comparative Information (Amendment to IFRS 17)' issued by the IASB in December 2021.
The European Union has published a Commission Regulation endorsing 'Deferred Tax related to Assets and Liabilities arising from a Single Transaction' issued by the IASB in May 2021.
Following the provisional political agreement on the EU Corporate Sustainability Reporting Directive (CSRD), on 22 June 2022, the near final text for the CSRD has been published.
The European Council and European Parliament have reached a provisional political agreement on the corporate sustainability reporting directive (CSRD) proposed by the European Commission (EC) in April 2021.
Accountancy Europe has written a letter to the European Commission's Commissioner Mairead McGuinness on the development of purposeful and effective European sustainability reporting standards (ESRS) providing some important comments that need to be addressed in order for the ESRS to be a successful tool for the EU and its ambitious plan to to turn Europe into the first climate neutral continent by 2050.
