News

20. June 2017

ASCG issues E-GAAS 8 ‘Proposed amendments to GAS 20 Group Management Report’

Today, the ASCG issued for public consultation draft German Amendment Accounting Standard No 8 (E-GAAS 8) specifying certain non-financial reporting requirements. A particular challenge arose from the fact that the transposition of the EU’s CSR Directive into German law was only completed in April, yet entities have to already apply it as of January. Hence, there was limited time available for amending GAS 20 should entities be provided with helpful guidance. With the proposed amendment to GAS 20 the ASCG aims at specifying the legal text by taking into account all available supporting material to the Implementation Act, without going beyond the legal requirements. Read more

20. June 2017

First Meeting of the ASCG’s preparer forum on the implementation of IFRS 16

On 19 June 2017, the ASCG's preparer forum on the implementation of IFRS 16 Leases met for the first time. During this one-day event, representatives from 30 ASCG member companies and organisations came together to discuss issues arising from the implementation of the new standard. Read more

7. June 2017

IASB finalises IFRS Interpretation 23

The IASB has finalised and today published the Interpretation IFRIC 23 regarding IAS 12. IFRIC 23 provides requirements that add to the requirements in IAS 12 by clarifying how to reflect the effects of uncertainty in accounting for income taxes. Read more

2. June 2017

Dr Brandt reappointed as IFRS Foundation Trustee

On 1 June 2017, the IFRS Foundation, under which the IASB operates, announced the reappointment of four of its Trustees for another three year term. Amongst the four individuals is Dr Werner Brandt, former CFO of SAP. The terms of all four Trustees start on 1 January 2018 and end 31 December 2020. Read more

29. May 2017

Technical committee meetings in June 2017 – meeting papers

The meeting papers of the meetings from 8 and 9 June 2017 are available for download. Read more

27. May 2017

IASB published Request for Information on IFRS 13

On 25 May 2017, the IASB has issued the Request for Information (RfI) regarding IFRS 13 Fair Value Measurement. The RfI is part of the Post-implementation Review (PiR) of IFRS 13 with the objective to assess whether the Standard achieves its objectives, how the requirements of the Standard affect investors, companies and auditors and whether there are areas in which the Standard is applied inconsistently. Read more

22. May 2017

ASCG comments on the IASB’s ED/2017/3

Today, the ASCG submitted its comment letter on the ED/2017/3 Prepayment Features with Negative Compensation (Proposed Amendments to IFRS 9) to the IASB. A similar comment letter has also been submitted to EFRAG. Read more

19. May 2017

Save the date: ASCG to host outreach event on 31 August on the transposition of the CSR Directive

Following the completion of the legal process around the transposition of the CSR Directive into German Law, the ASCG’s two Technical Committees are working hard on developing implementation guidance. We hope to be able to publish a draft German Amendment Accounting Standard (D-GAAS) No. 8 for public consultation shortly after the upcoming joint meeting of the two Committees to be held on 8 June in Berlin. Read more