AAEC Newsletter: October 2021

Corporate Sustainability Reporting (CSR)
- New Standards Impacting SME Reporting



Dear {#party.FirstName},

As announced in our last newsletter, we would like to take this opportunity to provide you with more information on developments in the area of sustainability reporting.

The IFRS Foundation plans to establish a new standard setter for the creation of international standards on sustainability reporting. Thus, in the future, there will be two separate standard setters under the umbrella of the IFRS Foundation: on the one hand, as before, the IASB (International Accounting Standards Board) and, on the other hand, the ISSB (International Sustainability Standards Board). While the IASB is responsible for IFRS, the ISSB will publish so-called "IFRS Sustainability Standards" in future.

    

 
 


We would also like to point out that 
the European Federation of Accountants and Auditors for SMEs (EFAA) has recently published SMPS Supporting Sustainability, which summarises the key facts about sustainability reporting specifically for SMEs and their auditors
.

Download the guide (dated 05/08/2021) from the
 EFAA Publications page.

 


Both developments (the IFRS Foundation's responsibility for the development of international sustainability standards as well as the EFAA's guidance with a focus on SMEs and their auditors) show the importance of the topic for our SME clients and for us as auditors.

In addition to IFRS, the new IFRS Sustainability Standards will therefore also focus on the work of the AAEC and this monthly newsletter.

Should you ever lose track of the big picture, my colleagues and I from the AGN EMEA Accounting, Auditing & Education Committee (AAEC) will be happy to help and guide you safely through the IFRS and CSR jungle. As a member of AGN International, you can make use of the AGN AAEC Helpline at any time or contact me by email at carsten.ernst@wirtschaftstreuhand.de or by mobile phone at +49 173 8710322.
 

Happy accounting,
Carsten

Carsten Ernst
Managing Partner at Wirtschafts Treuhand Group, Stuttgart, Germany
 



  

- Serves as accounting counsel focused on International Financial Reporting Standards (IFRS)
- Provides AGN members with support in the context of specific transactions
- University Degree in Business Administration

  - German Public Auditor and Tax Consultant
- Member of the following AGN bodies: EMEA
Board of Directors (Vice-Chairman), EMEA AAEC
Accounting and Auditing Committee (Chairman) and IACC International Auditing and Accounting Committee


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