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On February 26, 2025, the European Commission published proposals to simplify sustainability reporting and assurance. The proposals essentially comprise the Omnibus Directives amending the Statutory…
With the entry into force of the EU Regulation on Artificial Intelligence (AI Regulation) on August 1, 2024, comprehensive rules for the use of AI systems were introduced. These will take effect…
On 24 January 2025, Accountancy Europe, the European umbrella organization of the auditing profession, published an overview of the status of implementation of the Corporate Sustainability Reporting…
The International Ethics Standards Board for Accountants (IESBA) published two amendments to the IESBA Code of Ethics (Code) on January 17, 2025:
International Ethics Standards for…
The European Financial Reporting Advisory Group (EFRAG) has submitted a standard for voluntary sustainability reporting by non-capital-market-oriented small and medium-sized enterprises (SMEs) to the…
The International Ethics Standards Board for Accountants (IESBA) approved two revisions to the IESBA Code of Ethics (Code) on December 5, 2024:
Proposed International Ethics Standards for…
Following a meeting of EU heads of state and government with the European Commission in Budapest on November 8, 2024, Commission President Ursula von der Leyen announced an omnibus regulation to…
The draft bill of the Annual Tax Act 2024 provided for the introduction of Section 87a (1) sentence 2 AO‑E. According to this, the use of special electronic mailboxes for lawyers,…
On October 24, 2024, the European Securities and Markets Authority (ESMA) published its audit priorities for the upcoming 2025 audit season (PDF). These must be taken into particular consideration…
The Legal Affairs Committee of the German Federal Parliament held a public hearing on sustainability reporting on October 16, 2024 (in German). Andreas Dörschell, President of the WPK, took part…
On September 26, 2024, the German Federal Parliament discussed the government's draft CSRD Implementation Act at first reading and referred it to the committees. The WPK submitted its comments to the…
Law in the Federal Parliament today - Chamber of Public Accountants reminds of European requirements - The government draft of a law to transpose the European Corporate Sustainability Reporting…
On August 29, 2024, the International Auditing and Assurance Standards Board (IAASB) published the 2023-2024 edition of the Handbook of International Quality Control, Auditing, Review, Other…
The International Auditing and Assurance Standards Board (IAASB) has issued guidance (Authority Supplemental Guidance) on the application of the International Standard on Auditing of Financial…
On August 7, 2024, the European Commission published a comprehensive catalog of questions and answers on sustainability reporting and its assurance (PDF). The 90 questions cover the following eight…
On July 22, 2024, the WPK commented on the Committee of European Auditing Oversight Boards' (CEAOB) draft non-binding guidance on the limited assurance engagement on sustainability reporting. The…
On July 24, 2024, the Federal Ministry of Justice (BMJ) published the government draft of a law to implement Directive (EU) 2022/2464 of the European Parliament and of the Council of…
On July 5, 2024, the Corporate Sustainability Due Diligence Directive (CSDDD) was published in the Official Journal of the European Union (Directive (EU) 2024/1760). The directive must be transposed…
In March 2024, the Federal Ministry of Justice published the draft bill for a so-called CSRD Implementation Act. The WPK participated in the consultation of the associations with a statement dated…
On May 31, 2024, the European Financial Reporting Advisory Group (EFRAG) published three Implementation Guidance documents on the implementation of the European Sustainability Reporting Standards in…
On May 8, 2024, the WPK commented on the draft Proposed International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and Other Revisions to the…
On April 29, 2024, the WPK commented on the draft Using the Work of an External Expert as part of the consultation of the International Ethics Standards Board for Accountants (IESBA). The draft…
German Chamber of Public Accountants (WPK) advocates the gradual establishment of a market for the confirmation of sustainability information – The draft law of the Federal Ministry of Justice on the…
On April 8, 2024, the WPK commented on limited changes due to the amended PIE definition (Track 2) as part of the IAASB's consultation. The amendments are primarily intended to align the…
On March 22, 2024, the Federal Ministry of Justice (BMJ) published a draft bill to implement Directive (EU) 2022/2464 of the European Parliament and of the Council of December 14, 2022…
On March 15, 2024, the Committee of Permanent Representatives (COREPER) approved a compromise proposal on the Corporate Sustainability Due Diligence Directive (CSDDD) after prolonged resistance from…
The European Financial Reporting Advisory Group (EFRAG) has published the first twelve questions and answers on the application of ESRS (Explanations 1/2024) on its ESRS Q&A Platform set up in…
On February 22, 2024, the International Federation of Accountants (IFAC), together with the American Institute of Certified Public Accountants (AICPA) and the Chartered Institute of Management…
The European Council and the European Parliament have reached a provisional agreement to follow the European Commission's proposal and postpone the adoption of the sector-specific ESRS, originally…
The International Ethics Standards Board for Accountants (IESBA) has published two consultations (Exposure Drafts, EDs) on amendments to the Code of Ethics (Code): Sustainability: Proposed…
On January 10, 2024, the International Federation of Accountants (IFAC) published a Sustainability & Education Literature review highlighting key aspects of education and training in…
On December 14, 2023, the Council of the European Union and the European Parliament reached a provisional political agreement on the Corporate Sustainability Due Diligence Directive (CSDDD) in the…
On October 17, 2023, the European Commission adopted a delegated act to raise the thresholds for determining the size classes of companies and groups. This raises the previous thresholds of total…
Draft law expected soon / Profession distinguished by strict independence rules and established supervisory system – Sustainability reporting will be one of the key challenges for German business in…
On September 6, 2023, the European Securities and Markets Authority (ESMA) published an update to its ESEF reporting manual on the single European electronic format (ESEF Reporting Manual). The last…
In a letter dated April 4, 2023, the WPK submitted comments to the International Auditing and Assurance Standards Board (IAASB) on its draft of the amended ISA 570 (Revised) Going…
The European Commission adopted the Delegated Act on Set 1 of the European Sustainability Reporting Standards (ESRS) on July 31, 2023. It will enter into force following its publication in the…
On June 28, 2023, the International Auditing and Assurance Standards Board (IAASB) unanimously approved the draft International Standard on Sustainability Assurance (ISSA) 5000. Comments on the draft…
The IAASB issued Proposed International Standard on Auditing 570 (Revised), Going Concern, a draft of amended ISA 570 on going concern on April 26, 2023. Comments are requested by…
WPK submitted an opinion on the European Commission’s Proposal for a Directive Harmonising Certain Aspects of Insolvency law to the Federal Ministry of Justice on 27 February 2023 and to the…
In its meeting of 25 January 2023, the Executive Board of the Chamber of Public Accountants (WPK) dealt with the transposition of the Corporate Sustainability Reporting Directive (CSRD) into…
The European Commission is currently conducting a consultation on the Proposal for a directive on the definition of criminal offences and penalties for violations of Union restrictive measures. In…
The Federal Ministry of Justice has just published a Framework Paper on Strengthening Courts in Economic Disputes and Introducing Commercial Courts (in German). Public accountants or chartered…
On 24 January 2023, the International Auditing and Assurance Standards Board (IAASB) published the draft of a section on auditing a group financial statement within the proposed audit standard for…
The International Ethics Standards Board for Accountants (IESBA) is organising four round tables on the subject of sustainability in late March/early April 2023 (times not yet known): 24 March…
In the search for a public auditor in the Adler case, the profession has been unjustifiably criticised/obligation to contract counterproductive – In the search for a public auditor by the property…
After the Corporate Sustainability Reporting Directive – CSRD, 2022/2464/EU was published in the Official Journal of the European Union on 16 December 2022, it entered into force on…
The WPK participated in the Federal Ministry of Justice’s public consultation on the Drafts of the European Sustainability Reporting Standards (ESRS) and commented on them on 21 December 2022.
The European Federation of Accountants and Auditors for small and medium-sized enterprises (EFAA for SMEs) has developed guidelines to give members of the profession an overview of the subject of…
