Act to Modernise Accounting Law


 

The Act to Modernise Accounting Law (AMAL) is a legal project of the German government to reform German accounting law. The primary goal of the Act is to improve the validity, comparability and transparency of commercial annual financial statements. Certain existing commercial approaches, disclosure and valuation options will be altered in order to bring about a convergence of German accounting practices with International Financial Reporting Standards (IFRS).

 

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