Dr. Hanne Böckem
Partner, Audit, DPP
KPMG AG Wirtschaftsprüfungsgesellschaft
The European Union published Regulation (EU) No. 2024/1317 of 15 May 2024 amending Regulation (EU) 2023/1803 as regards to International Accounting Standard 7 and International Financial Reporting Standard 7 in the Official Journal of 16 May 2024. This Regulation endorses amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures.
The amendments, which were published by the International Accounting Standards Board (IASB) on 25 May 2023, relate to disclosure requirements in connection with supplier financing arrangements - also known as supply chain financing, trade payables financing or reverse factoring arrangements (see Express Accounting News 16/2023).
The amendments are applicable to financial years beginning on or after 1 January 2024.
KPMG Express Accounting News
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