GAS 17 - Reporting on the Remuneration of Members of Governing Bodies

• Adopted by the German Accounting Standards Board (GASB) on 13 December 2010. Publication of the authoritative German version by the Federal Ministry of Justice under section 342(2) of the HGB on 27 January 2011 (Federal Gazette No 15a).
• Revised paragraphs 8, 15, 37, 83, 84, and 85, and the new paragraph 8a adopted by the Accounting Standards Committee of Germany (ASCG) on 21 April 2016. Publication of the authoritative German version by the Federal Ministry of Justice and Consumer Protection under section 342(2) of the HGB on 21 June 2016.
• Revised paragraphs 1, 3, 4, 6, 7, 8, 11, 12, 13, 78, 80, and 83 adopted by the Accounting Standards Committee of Germany (ASCG) on 22 September 2017. Publication of the authoritative German version by the Federal Ministry of Justice and Consumer Protection under section 342(2) of the HGB on 4 December 2017.
• Revised version of paragraphs 1 to 14, 16 to 19, 21, 23, 25 to 28, 31, 32 and 34 to 38, withdrawal of paragraphs 38 to 83, new paragraphs 13a, 13b and 38 to 40, and withdrawal of the Appendix adopted by the Accounting Standards Committee of Germany (ASCG) on 17 and 24 October 2019. Publication of the authoritative German version by the Federal Ministry of Justice and Consumer Protection under section 342(2) of the HGB on 9 April 2020.

Section 314(1) no. 6 of the Handelsgesetzbuch (HGB – German Commercial Code) forms the basis for GAS 17, the objective of which is to clarify existing uncertainties relating to the application of these provisions. Application to reporting obligations in the annual financial statements, with the necessary modifications, is recommended.

For non-share-based payments, the Standard also stipulates the conditions under which these benefits are considered to have been granted in accordance with section 314(1) no. 6(a) sentence 1 of the HGB. This in turn determines the financial year in which the benefits granted are disclosed. This is the case if a legally binding award has been made to the governing body member and the activity on which the award is based has been performed. In the case of an award subject to a condition precedent, this means that the disclosure shall only be made once the condition has been satisfied in full; in the case of an award subject to a condition subsequent, it is only clear once the condition has lapsed that the right cannot be forfeited at a later date. The corresponding disclosure shall therefore only be made in the financial year in which the condition subsequent lapses.