DRSC-AFRAC project group consults first interim result of their project

The German Accounting Standards Committee (DRSC) and the Austrian Financial Reporting Advisory Committee (AFRAC) are currently systematically collecting translated technical terms (English-German) in Set 1 of the European Sustainability Reporting Standards (ESRS) as part of their joint group work. This systematic collection of terms aims to provide a foundation for the future translation of the VSME ESRS (Voluntary ESRS for Small and Medium-sized Enterprises).

In its first two meetings in September and October 2024, the project group focused on the current English and German versions of Set 1 of the ESRS, using the English version from April 2024 and the German version from August 2024, along with the DRSC analysis of corrections to the German version. The project group concentrated on systematically collecting technical terms (English-German) in ESRS 1 and ESRS 2.

The project group is currently consulting on the first interim results of its project work until 20 November 2024. The consultation relates to:

• systematically collected translations of technical terms (English-German) from ESRS 1 and ESRS 2.

In the upcoming meetings, the project group will discuss technical terms from the topical ESRS and will also present these for consultation. At the end of this process, the translations in the glossary of Set 1 of the ESRS are also to be critically assessed.