On September 1, 2017 the DRSC (German Accounting Standards Committee) published a draft of the German accounting standard no. 33 on currency translation in consolidated financial statements for public comment.
With the release of the draft the DRSC pursues the target to specify the principles of the currency translation according to § 308a as well as the principles of the translation of business transactions in foreign currency in the commercial balance sheet II of the businesses included as part of consolidated financial statements according to § 308 HGB (German Commercial Code) and to clarify any questions of doubt in this context.