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Even though the year is already in full swing, it is still young – young enough in any case to wish you all the best for a healthy, peaceful and successful 2025!

On to the topics in this issue: Despite the high level of public interest, the implementation of the Sustainability Reporting Directive (CSRD) into German law failed in 2024. This has implications for the sustainability reporting planned by companies for the 2024 financial year and its audit, which we present to you in this issue. The starting points are a question and answer paper from the Institute of Public Auditors in Germany (IDW) and a briefing paper "ESRS as a framework for a non-financial statement" from the German Accounting Standards Committee (DRSC).

We also report on the publication of the IFRIC Update November 2024. The topics covered in this issue are Assessing Indicators of Hyperinflationary Economies, Recognition of Intangible Assets Resulting from Climate-related Expenditure and Classification of Cash Flows related to Variation Margin Calls on 'Collateralized-to-Market' Contracts. In addition, the International Accounting Standards Board (IASB) published "Contracts Relating to Nature-Dependent Electricity (Amendments to IFRS 9 and IFRS 7)" on December 18, 2024.

Finally, we inform you about the adoption of a new version of IDW RS IFA 1 on the distinction between maintenance expenses and production costs for buildings in connection with energy-related renovations.

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