EU: Amendments to the monetary size criteria for companies in the Accounting Directive published in the OJEU

The Delegated Directive, amending the Accounting Directive to adjust the monetary size criteria (balance sheet and net turnover) for micro, small, medium-sized, and large companies by 25% in order to account for inflation was published in the Official Journal of the EU on 21 December 2023. (For more details on the Delegated Directive, see our previous blog post.) 

Generally, Member States shall apply the new thresholds starting from the financial year beginning on or after 1 January 2024. However, they can allow companies to apply these provisions from the financial year beginning on or after 1 January 2023. 

Member States must enact the legislation necessary to comply with the Directive by 24 December 2024.