In our top topic, we look at the impact of trade tariffs on financial reporting. The latest developments in the trade dispute between the USA and the rest of the world have led to great uncertainty regarding the development of the global economy.
The EU Commission's proposals as part of its first omnibus regulatory package will have an impact on the expected relevance of the Voluntary Sustainability Reporting Standard (VSME Standard). In an article, we categorise the VSME standard, consider the strategic relevance of voluntary reporting on sustainability aspects and identify points of overlap between the VSME standard and Set 1 of the European Sustainability Reporting Standards (ESRS).
In addition, the ‘Stop-the-Clock’ Directive on Sustainability Reporting (CSRD) and Due Diligence (CSDDD) was published in the EU Official Journal. The International Sustainability Standards Board (ISSB) has also published a draft amendment to the IFRS Sustainability Disclosure Standard ‘IFRS S2 - Climate-related Disclosures’. Furthermore, the EU Commission is launching a consultation on the amendment of the Regulation on Sustainability-related Disclosures in the Financial Services Sector (SFDR).
Finally, the addendum to the IFRIC Update March 2025 was published. It concerns topics such as: Guarantees Issued on Obligations of Other Entities, Recognition of Revenue from Tuition Fees and Recognition of Intangible Assets from Climate-related Expenditure.
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
