On March 22, 2024, the Federal Ministry of Justice published the draft bill for the implementation of the Corporate Social Responsibility Directive (CSRD). We have summarized the main contents for you and provide an overview of the core contents of the draft bill for companies affected by its application. In a further article on this topic, we present the special features of the draft bill for financial companies. According to EU requirements, the legislative process must be completed by July 6, 2024, as the first reporting year has already begun for some companies.
In addition, the Institute of Public Auditors in Germany (IDW) has published a draft module statement on sustainability reporting. This deals in particular with issues relating to materiality analysis.
We would also like to inform you about two agenda decisions of the IFRS IC for submission to the IASB. They concern climate-related commitments (IAS 37 Provisions, Contingent Liabilities and Contingent Assets) and payments contingent on continued employment during handover periods (IFRS 3 Business Combinations).
Some shorter articles deal with the IASB's publication of a draft amendment to IFRS 3 and IAS 36 as well as the publication of IFRS 18 Presentation and Disclosure in Financial Statements. In addition the Federal Council approved the increase in the monetary thresholds for the company size classes in the German Commercial Code and approved the Growth Opportunities Act.
Here you will find an overview of all topics of the past Accounting News (Download PDF, 0.5 MB).
Dr. Hanne Böckem
Partner, Audit, DPP
KPMG AG Wirtschaftsprüfungsgesellschaft
