IFRS Evaluation: Presenting results from the company survey and panel discussion with BdB and BDI on 9 December 2024

The ASCG, in cooperation with the Bundesverband deutscher Banken (BdB) and the Bundesverband der deutschen Industrie (BDI), invites all interested parties to attend a

Presentation and Public Panel Discussion (in German)

on

   Monday, December 9, 2024

   from 5:00 p.m. to 7:00 p.m.

at the

   Bundesverband der deutschen Industrie

   Haus der Deutschen Wirtschaft

   Breite Straße 29, 10178 Berlin

Virtual participation in the event is also possible.

At the event, the results of the structured company survey conducted by the ASCG from March to October 2024 as part of phase 2 of the study to evaluate the application of IFRS in Germany will be presented for the first time and discussed in a panel with company representatives. In addition, the event offers all participants a platform to exchange views on the results of the survey.

Further details on the event can be found in the agenda.

“With this evaluation, the ASCG aims to contribute to effective and efficient financial reporting in Germany. Over the past seven months, more than 1,200 respondents have participated in our survey on the application of IFRS, resulting in more than 800 complete responses from companies of all sizes. We are very pleased to be able to present the first results to the public on the basis of this great response and to discuss ideas for easing the burden on German companies. With the increasing relevance of international accounting as a basis for tax assessment and the upcoming simplification of the standards when using IFRS for subsidiaries, we are also observing considerations in other countries to reduce the complexity of accounting. Our survey shows that a differentiated and user-oriented approach is necessary here, because IFRS are not equally relevant, suitable and appropriate for all types of companies in Germany,” commented Prof Dr. Sven Morich, Vice President of the ASCG, on the announcement of the panel discussion.

Registrations for the event can be made at the BDI under this link. Access data for any online participation will be sent to you shortly before the event.

Background:

As outlined in the accompanying guidelines for phase 1, the aim of the study is to objectively record the various stakeholder perspectives on the application of IFRS in Germany. In addition to the motivation for application and the associated challenges from the preparers’ perspective, the user perspective and the conceptual interactions with the diverse functions of financial reporting are also to be included.

In a first step (phase 1), interested stakeholders from all areas (preparers of financial statements, auditors, research & teaching, users) were involved via interviews in 2023. Building on the group interviews, a structured questionnaire was developed, which has been made available to the preparers of company financial statements since March 2024 as an online survey for general, public consultation (phase 2). One focus here was to empirically determine the specific benefits of a conditional exemption option for the application of IFRS in the separate financial statements for different types and sizes of companies. To this end, a stratified sample of companies of all sizes was specifically addressed. At the same time, the ASCG also invited the interested public to participate.

The ASCG has compiled further information on the background and progress of the overall study on the project page.

The ASCG project team (Ilka Canitz canitz@drsc.de, Rico Chaskel chaskel@drsc.de and Peter Zimniok zimniok@drsc.de) will be happy to answer any questions.