Dr. Hanne Böckem
Partner, Audit, DPP
KPMG AG Wirtschaftsprüfungsgesellschaft
On 29 September 2022, the Expert Committee on Corporate Reporting (FAB) of the Institute of Public Auditors in Germany (IDW) adopted the final revised IDW Statement on Accounting Disclosures in the Notes on Transactions with Related Parties pursuant to Sections 285 No. 21, 314 (1) No. 13 of the German Commercial Code (HGB) (IDW RS HFA 33).
In the course of finalising IDW RS HFA 33, no changes were made to the content of the draft of the new version of the pronouncement published in May 2022 (we reported on this in Express Accounting News 23/2022).
The revised pronouncement is applicable for the first time to the preparation of financial statements for financial years beginning after 31 December 2022.
The adoption of the revised IDW RS HFA 33 was announced in a notice on the IDW website. The pronouncement has been published in issue 12 of IDW Life.