Beyond the GAAP No. 178 - June 2023

Almost seven months after EFRAG submitted the first drafts of the European Sustainability Reporting Standards (ESRS), and two months later than initially announced, the European Commission (EC) published the amended versions of these standards on 9 June via a draft delegated act. The uncertainties surrounding the nature of the changes introduced by the EC have now been resolved! In this issue, Beyond the GAAP presents the most significant changes to EFRAG's draft standards.

The definitive ESRS are expected to be adopted this month, right after the end of the four-week public consultation which closed on 7 July. Sustainability reporting is also very much in the international news. On 26 June, the International Sustainability Standards Board (ISSB) published the definitive versions of its first two standards, IFRS S1 - General Requirements for Disclosure of Sustainability-related Financial Information, and IFRS S2 - Climate Change Disclosures, laying the foundations for a globally recognised baseline for reporting on the financial effects of the risks and opportunities arising from sustainability issues.

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Documents

178-Beyond-the-GAAP-June-2023
178-Beyond-the-GAAP-June-2023
178-Index
178-Index