09.12.2008
BilMoG – still no final time schedule
There is still every indication that the German Accounting Law Modernisation Act (BilMoG) will not – as originally planned – be applicable for the fiscal year 2009. The government draft proposal was debated in the Bundestag, Germany’s Lower House, at the end of September and was then passed to the legal committee for review. This will take place mid-October.
The next expert hearing is planned for the 17.12.2008, making the passing of the German Accounting Law Modernisation Act (BilMoG) bill very unlikely in 2008. It will not be possible to implement the recommendations of the legal committee on the bill in this year. The 2nd and 3rd readings in the Bundestag will not happen before February 2009, pointing to a postponement of the German Accounting Law Modernisation Act (BilMoG).
Various lobby groups, associations and institutions are still presenting statements and suggestions for improvement on the German Accounting Law Modernisation Act (BilMoG). The Institute of Public Auditors in Germany (IDW) has put forward a document to the legal committee of the Bundestag, in which they present the argument to replace the option to accrue for indirect pension liabilities in art. 28 para 1 clause 2 EGHGB by an obligation to carry them as a liability, as was planned in the BilMoG ministry draft. This point had been removed in the federal cabinet version for reasons of legal certainty.