Beyond the GAAP n°171 - November 2022

Once again, no major new standards have been published this year, but disclosures are required on the impact of standards issued by the IASB but not yet effective, particularly for insurers in view of the entry into force of IFRS 17 on 1 January 2023.

This month, non-financial reporting has again dominated the news. On 22 November, exactly a week after the Sustainability Reporting Board vote, EFRAG submitted the first set of European Sustainability Reporting Standards (ESRS) to the European Commission (EC), laying the foundations of the standardised common language for sustainability-related matters throughout Europe, as required by the Corporate Sustainability Reporting Directive which will be published in the Official Journal of the European Union in December.