Dr. Hanne Böckem
Partner, Audit, DPP
KPMG AG Wirtschaftsprüfungsgesellschaft
The European Union published Regulation (EU) No. 2024/2862 of 12 November 2024 amending Regulation (EU) 2023/1803 with regard to International Accounting Standard 21 in the Official Journal of 13 November 2024. This regulation adopts amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates.
The amendments, which were published by the International Accounting Standards Board (IASB) on 15 August 2023, relate to the determination of the exchange rate in the event of long-term non-exchangeability (see Express Accounting News 26/2023).
The amendments are to be applied to financial years beginning on or after 1 January 2025. Early application of the amendments is permitted.
KPMG Express Accounting News
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