This issue begins with the audit areas of focus of the European Securities and Markets Authority (ESMA) and the Federal Financial Supervisory Authority (BaFin) for 2023. The increased uncertainty in view of the pandemic, the Ukraine war and climate change run like a common thread throughout the areas of focus.

In our “Accounting in Dialogue” section, you can learn about the serious implications that BEPS 2.0, global minimum taxation, has on (group) accounting.

The European Financial Reporting Advisory Group (EFRAG) has finalised the first series of drafts of the new EU Sustainability Reporting Standards (ESRSs). In addition, the European Council and the European Parliament have given green light to the Sustainability Reporting Directive (CSRD).

Finally, we inform you about the publication of the IDW Banking Committee’s technical note on selected questions on accounting and reporting in accordance with the German Commercial Code (HGB) in annual financial statements as of 31 December 2022.

In the “Publications” section, we refer you to the current IFRS model consolidated financial statements, which contain an example of informative IFRS consolidated financial statements.

Before I leave you to read Accounting News, I would like to thank you for your interest in our newsletter, and wish you a happy holiday season and a good start to a peaceful and healthy 2023. I look forward to welcoming you back to Accounting News in January.

Here you will find an overview of all topics from the previous Accounting News (Download PDF, 0.5 MB).