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As usual, we dedicate the majority of the December issue to the audit priorities of the German Federal Financial Supervisory Authority (BaFin) and the European Securities and Markets Authority (ESMA) for 2025.

There is news on sustainability reporting: in a circular to members, the Institute of Public Auditors in Germany (IDW) sheds light on the consequences of a delayed transposition of the Corporate Sustainability Reporting Directive (CSRD) into German law. In addition, several FAQ documents have been finalised or published and seven further ESRS module drafts have been published by the IDW.

The International Accounting Standards Board (IASB) has published an exposure draft on amendments to IAS 37. The EU is also adopting amendments to IAS 21. Another topic: the adoption of IDW RS FAB 50: IAS 1-M1 revised.

Three new draft standards have been published: IDW ES 1 (revised) Principles for the Performance of Business Valuations and IDW ERS HFA 15 on accounting for emission allowances and GHG quota trading under commercial law and IDW ERS HFA 18 on accounting for investments in commercial partnerships in the annual financial statements under commercial law.

I would also like to draw your attention to the IFRS model consolidated financial statements (MKA) 2024 posted on our website under "Publications".

Finally, I would like to wish you and your families a Merry Christmas and a good start to a peaceful, healthy and fulfilling 2025.

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