IFRS EU Endorsement Process [March 2022]
The European Financial Reporting Advisory Group (EFRAG) updated its report showing the status of endorsement of each IFRS, including standards, interpretations, and amendments, most recently on 3 March 2022.
The interpretation of the National Accounting Board gained the acknowledgement of the Supreme Administrative Court once again
In mid-February, just when most companies are in the process of preparing their financial statements, the Supreme Administrative Court came to a conclusion in an accounting and tax dispute regarding the transla…
Amendments to IAS 8 endorsed for use in the EU
On 2 March 2022, the amendments to IAS 8 Accounting Policies, Changes in Accounting Estimates titled Definition of Accounting Estimates were endorsed by the European Commission for use in the European Union. Th…
Financial reporting considerations related to the war in terms of US GAAP
On 14 March 2022, Deloitte published Financial Reporting Alert 22-1 related to the impacts of the current war between Ukraine and Russia. The alert elaborates relevant accounting and reporting implications to b…
Things are looking up for several countries in the area of bilateral insurance contracts
We are bringing you a summary of new bilateral draft contracts in the area of social security submitted to the Chamber of Deputies and the Senate of the Czech Republic, recommended to the President of the Chamb…
Amendments to IAS 1 endorsed for use in the EU
On 2 March 2022, the amendments to IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements titled Disclosure of Accounting Policies were endorsed by the European C…
Financial reporting considerations related to the war
On 17 March 2022, Deloitte’s Global Office issued a 26 pages publication titled “IFRS in Focus – Financial Reporting Considerations Related to the Russia-Ukraine War”.
How can discovering self-serving expert opinions help in squeeze-out litigations?
Litigations over the fair value of “squeezed-out” shares of minority shareholders generate large amounts of information relevant to company valuations. The objective of squeeze-out litigations is to define the …
Another administrative court’s judgement on the interpretation of the term “beneficial owner”
The Municipal Court in Prague has recently issued a judgement (ref. no. 6 Af 36/2020-42 of 3 February 2022) which dealt with the interpretation of the term “beneficial owner” for the purposes of the Income Taxe…