21. June 2016
The Federal Ministry of Justice published German Amendmend Accounting Standards No. 6 and No. 7 Amendments on GAS 16 in the authoritative German version pursuant to § 342 (2) HGB in the Official Gazette “Bundesanzeiger” on 21 June 2016.
GAAS 6 amends the following standards: GAS 3 Segment Reporting, GAS 8 Accounting for Investments in Associates in Consolidated Financial Statements, GAS 9 Accounting for Investments in Joint Ventures in Consolidated Financial Statements, GAS 13 Consistency Principle and Correction of Errors, GAS 17 (amended 2010) Reporting on the Remuneration of Members of Governing Bodies, GAS 18 Deferred Taxes, GAS 19 Duty to Prepare Consolidated Financial Statements, Basis of Consolidation, GAS 20 Group Management Report and GAS 21 Cash Flow Statements. GASs 3-10 Segment Reporting by Financial Institutions and 3-20 Segment Reporting by Insurance Enterprises are being withdrawn by GAAS 6. The sector-specific requirements that are currently contained in those two standards will be integrated into GAS 3.