novus IFRS 4th Edition 2021

In this last no­vus IFRS be­fore the end of the year, we in­form you about the chan­ges to the re­verse fac­to­ring pro­ce­dure. In ad­di­tion, we have com­pi­led key dis­clo­sures to be re­por­ted in an EU-IFRS con­so­li­da­ted fi­nan­cial state­ment as of De­cem­ber 31, 2021 with re­gard to stan­dards and in­ter­pre­ta­ti­ons that have al­re­ady been ad­op­ted.

IN FO­CUS

• Ex­po­sure Draft Publis­hed on Dis­clo­su­res on Supplier Fi­nance Ar­ran­ge­ments (Draft Amend­ment to IAS 7 and IFRS 7)

NO­TES TO CON­SO­LI­DA­TED FI­NAN­CIAL STATE­MENTS

DIS­CLO­SU­RES RE­QUI­RED BY IASB PU­BLI­CA­TI­ONS 

• Over­view of Dis­clo­sure Re­qui­re­ments in EU-IFRS con­so­li­da­ted fi­nan­cial state­ments at De­cem­ber 31, 2021
• Ef­fects 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

PUBLIS­HED EX­PO­SURE DRAFTS 

• IASB publis­hes draft ED/2021/9 on the Clas­si­fi­ca­tion of Non-Cur­rent Lia­bi­li­ties with Co­ven­ants (pro­po­sed amend­ments to IAS 1) 

IFRS IN­TER­PRE­TA­TI­ONS COM­MIT­TEE

• Agenda De­ci­si­ons of the IFRS In­ter­pre­ta­ti­ons Com­mit­tee 

IASB: CUR­RENT STAN­DARD-SET­TING PRO­JECTS

• Post-Im­ple­men­ta­tion Re­view of IFRS 9 (Clas­si­fi­ca­tion & Mea­su­re­ment) 
• IFRS Ta­xo­nomy Up­date – 2021 Ge­ne­ral Im­pro­ve­ments and Com­mon Prac­tice 

OTHER STAN­DARD-SET­TERS 

IDW 

• In­sti­tut der Wirt­schaftsprüfer (IDW) publis­hes fur­ther mo­dule on IDW RS HFA 50 to cla­rify ap­pli­ca­tion is­sues in con­nec­tion with IAS 1 

EN­FORCE­MENT AUT­HO­RI­TIES 

BA­FIN

• Ba­Fin‘s 2022 Au­dit Prio­ri­ties in Con­nec­tion with Ba­lance Sheet Au­dits 

ESMA

• ESMA En­force­ment Prio­ri­ties for 2022 
• En­force­ment De­ci­si­ons Publis­hed 

GER­MAN FI­NAN­CIAL RE­POR­TING EN­FORCE­MENT PA­NEL (FREP) 

• Er­ror Fin­dings by the FREP