novus IFRS 2nd Edition 2022

Not least due to Rus­sia's war of ag­gres­sion in Ukraine, the so­cial, po­li­ti­cal and eco­no­mic si­tua­tion in Ger­many and the rest of the world is tense. Com­pa­nies are ha­ving to cont­end with high in­fla­tion ra­tes, a shor­tage of workers and skil­led workers, supply chain dif­fi­cul­ties and the ex­pec­ted re­ces­sion. These chal­len­ges lead to great un­cer­tain­ties and risks, which also af­fect IFRS re­por­ting. In this is­sue of the no­vus IFRS, among other things, we ex­amine the tech­ni­cal ad­vice from the IDW and ESMA, which pro­vide com­pa­nies with spe­ci­fic as­sis­tance with ac­coun­ting and re­por­ting in this un­cer­tain en­viron­ment.

IN FO­CUS

• Im­pact of cur­rent macroeco­no­mic de­ve­lop­ments on IFRS fi­nan­cial state­ments

NO­TES TO THE CON­SO­LI­DA­TED FI­NAN­CIAL STATE­MENTS

DIS­CLO­SU­RES RE­QUI­RED BY IASB PU­BLI­CA­TI­ONS

• Over­view of dis­clo­sure re­qui­re­ments in EU-IFRS con­so­li­da­ted fi­nan­cial state­ments as of De­cem­ber 31, 2022
• Im­pact of new or amen­ded stan­dards or in­ter­pre­ta­ti­ons (IAS 8.28)
• New or amen­ded stan­dards and in­ter­pre­ta­ti­ons not yet ap­plied (IAS 8.30)

IASB AND IFRS IC PU­BLI­CA­TI­ONS

IASB: ON­GO­ING STAN­DARD-SET­TING PRO­JECTS

• Post-Im­ple­men­ta­tion Re­view of IFRS 10, IFRS 11 and IFRS 12

IFRS IN­TER­PRE­TA­TI­ONS COM­MIT­TEE

• Agenda De­ci­si­ons of the IFRS In­ter­pre­ta­ti­ons Com­mit­tee

IN­TER­NA­TIO­NAL PRAC­TI­CES TASK FORCE (IPTF)

• Watch List on Highly In­fla­tio­nary Ju­ris­dic­ti­ons Up­da­ted

EN­FORCE­MENT AUT­HO­RI­TIES

ESMA

• ESMA: Eu­ro­pean Com­mon En­force­ment Prio­ri­ties 2023
• En­force­ment De­ci­si­ons Publis­hed

FE­DERAL FI­NAN­CIAL SU­PER­VI­SORY AUT­HO­RITY – BA­FIN

• Er­ror fin­dings by Ba­Fin