AFRAC and DRSC Exchange Views on Current Financial Reporting Topics

The Austrian Financial Reporting Advisory Committee (AFRAC) and the German Accounting Standards Committee (DRSC) held a joint meeting in Vienna to discuss current developments and key issues in reporting and standard-setting.

The discussions focused on the current status of IFRS for separate financial statements and on the joint work of the DRSC-AFRAC project group for the German translations of the European Sustainability Reporting Standards (ESRS) and the Voluntary Sustainability Reporting Standard (VS).

The meeting opened with presentations by AFRAC and DRSC on their respective organisations and current areas of focus. This was followed by an exchange on recent developments and unresolved issues in both areas, with particular attention given to the current state of work, existing challenges and next steps.

The meeting provided an opportunity for both organisations to share their perspectives on current reporting and standard-setting matters and to further strengthen their technical cooperation.