Hanne Böckem

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Omnibus initiative to simplify the CSRD, CSDDD and the EU taxonomy

Jan 30, 2025 | kpmg.com | Hanne Böckem

On 29 January 2025, the Commission of the European Union published a ‘Compass for Competitiveness’ (EU Compass) accompanied by a press release from EU Commission President Ursula von der Leyen.
DRSC publishes a consultation draft for an application note on DRS 20

Jan 28, 2025 | kpmg.com | Hanne Böckem

Home›Insights›DRSC publishes a consultation draft for an application note on DRS 20On 28 January 2025, the German Accounting Standards Committee e.V. (GASC) published a consultation draft for an application note on GAS 20 (E-DRSC AH 5). Directive (EU) 2022/2464 on Corporate Sustainability Reporting (CSRD) came into force on 5 January 2023 and was to be transposed into the national law of the EU member states by the beginning of July 2024. This has not yet taken place in Germany.
Announcement of DRÄS 14 in the Federal Gazette

Jan 8, 2025 | kpmg.com | Hanne Böckem |YouTube. Opens

The announcement of German Accounting Amendment Standard No. 14 (DRÄS 14) by the Federal Ministry of Justice in accordance with Section 342q (2) HGB was published in the official section of the Federal Gazette on 30 December 2024. The proper application of DRÄS 14 is thus associated with the presumption that the generally accepted accounting principles relating to group accounting have been observed.
IDW publishes seven further ESRS module drafts

Dec 2, 2024 | kpmg.com | Hanne Böckem

Home›Insights›IDW publishes seven further ESRS module draftsOn 22 November 2024, the Expert Committee on Corporate Reporting (FAB) of the Institut der Wirtschaftsprüfer in Deutschland e.V. (IDW) approved seven further draft modules of IDW RS FAB 100 regarding sustainability reporting by companies in accordance with the European Sustainability Reporting Standards (ESRS), which were published for consultation on 29 November 2024. The comment period for all interested parties ends on 31 March 2025.
IDW ES 1 n.V. published

Nov 25, 2024 | kpmg.com | Hanne Böckem

IDW ES 1 n.F. publishedHome›Insights›IDW ES 1 n.F. publishedOn 22 November 2024, the IDW published the draft of a new version of the IDW Standard: Principles for the Performance of Business Valuations (IDW ES 1 n.F.)On 7 November 2024, the Expert Committee for Business Valuation and Business Administration (FAUB) adopted the draft of a new version of the IDW Standard: Principles for the Performance of Business Valuations (IDW ES 1 n.F.).
Accounting News November 2024

Nov 18, 2024 | kpmg.com | Hanne Böckem |YouTube. Opens

Home›Insights›Accounting News November 2024After the short October issue, this time you can expect a much longer newsletter with two top topics. Firstly, the 19th edition of KPMG's cost of capital study has been published. As in previous years, it highlights current developments in the preparation of planning calculations and the derivation of capital costs as well as their significance for company values and corporate development.
BaFin audit priorities 2025

Nov 7, 2024 | kpmg.com | Hanne Böckem

Home›Insights›BaFin audit priorities 2025BaFin will focus on reviewing the recoverability of recognised assets within the scope of IAS 36 and IFRS 9. The transformation towards digital and sustainable business models on the one hand and geopolitical and macroeconomic developments on the other pose challenges for many capital market-oriented companies. Against this backdrop, the recoverability of financial and non-financial assets must be critically reviewed.
Accounting News October 2024

Oct 15, 2024 | kpmg.com | Hanne Böckem

We are back this month with a compact edition. On 19 September 2024, the IASB published an exposure draft on amendments to the equity method, which is used to account for investments in associates and joint ventures. In addition, the IFRIC Update September 2024 was published with preliminary agenda decisions on Guarantees Issued on Obligations of Other Entities and Recognition of Revenue from Tuition Fees.
Government draft of the CSRD Implementation Act published

Jul 24, 2024 | kpmg.com | Hanne Böckem |YouTube. Opens

On 24 July 2024, the Federal Cabinet adopted the government draft of the law to implement the Corporate Sustainability Reporting Directive (CSRD) (draft law to implement Directive (EU) 2022/2464 of the European Parliament and of the Council of 14 December 2022 amending Regulation (EU) No. 537/2014 and Directives 2004/109/EC, 2006/43/EC and 2013/34/EU with regard to corporate sustainability reporting).
IASB publishes Annual Improvements to IFRS - Volume 11

Jul 18, 2024 | kpmg.com | Hanne Böckem |YouTube. Opens

Home›Insights›IASB publishes Annual Improvements to IFRS - Volume 11On 18 July 2024, the International Accounting Standards Board (IASB) published the Annual Improvements to IFRS Accounting Standards-Volume 11. It contains amendments to IFRS 1, IFRS 7, IFRS 9, IFRS 10 and IAS 7.