IFRS Evaluation: Summary report on the responses to the ASCG company survey

A summary report that presents early results of the ASCG company survey is now also available in English language.

The results of the survey of German companies 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 were presented for the first time at an event on 9 December 2024 and published in a summary report in German language on 11 December 2024.

Further, the findings will be presented and discussed with other European Accounting Standard Setters at the EFRAG FR TEG-CFSS meeting on 10 March 2025.

The results of the study imply that there is no overall mandate for an unconditional option across all different groups of respondents, but also no overall mandate for keeping the status quo, i.e., the requirement to prepare separate financial statements under HGB. The responses suggest that a conditional option, i.e. an unconditional option for a specified set of companies, may prove an acceptable compromise. This solution would allow a clearly defined set of companies to decide for themselves whether to prepare their separate financial statements under IFRS while forcing others to continue preparing their separate financial statements under HGB, thereby shielding them from any “de facto compulsion” to apply the IFRS.

The results presented in this report are to be regarded as preliminary. A detailed final report on phase 2 (in German language) is expected to be published in March 2025.

Information on the event on December 9, 2024, which was held jointly with the Association of German Banks (Bundesverband deutscher Banken, BdB) and the Federation of German Industries (Bundesverband der deutschen Industrie, BDI) and included a panel discussion with company representatives in addition to the presentation of the results from the company survey, can be found in our press release.