16th ESMA enforcement decisions report released
18 Nov 2014
The European Securities and Markets Authority (ESMA) has published further extracts from its confidential database of enforcement decisions taken by European national enforcers. This batch deals with decisions in relation to IAS 1, IAS 7, IAS 12, IAS 16, IAS 18, IAS 32, IAS 36, IAS 38, IAS 40, IFRS 3, IFRS 5, IFRS 6, IFRS 8, and IFRS 13.
The European national enforcers of financial information monitor and review financial statements published by issuers with securities traded on a regulated European market and who prepare their financial statements in accordance with International Financial Reporting Standards (IFRS) and consider whether they comply with IFRS and other applicable reporting requirements, including relevant national law.
ESMA has developed a confidential database of enforcement decisions taken by individual European enforcers as a source of information to foster appropriate application of IFRS.
The publication of enforcement decisions is designed to inform market participants about which accounting treatments European national enforcers may consider as complying with IFRS, i.e. whether the treatments are considered as being within the accepted range of those permitted by IFRS. ESMA considers the publication of the decisions, together with the rationale behind them, will contribute to a consistent application of IFRS in the European Union.
Topics covered in the latest batch of extracts, covering the period from August 2012 to March 2014, include:
Standard | Topic |
---|---|
IAS 1 — Presentation of Financial Statements |
Disclosure of forborne loans |
IFRS 3 — Business Combinations |
Fair value of consideration paid in shares |
IAS 32 — Financial Instruments: Presentation |
Recognition of a liability payable to equity holders |
IAS 7 — Statement of Cash Flows |
Presentation of statement of cash flows |
IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations |
Presentation of discontinued operations Presentation of non-current assets held for sale |
IAS 12 — Income Taxes |
Deferred tax assets upon disposal of a subsidiary |
IAS 12 — Income Taxes |
Accounting for the effects of specific tax regime |
IAS 36 — Impairment of Assets |
Key assumptions used in the impairment test of goodwill |
IAS 38 — Intangible Assets |
Disclosures related to capitalised costs |
IFRS 8 — Operating Segments |
Disclosure of major customers |
Click for access to the full report (link to ESMA website).
Related Topics
- IAS 40 — Investment Property
- IFRS 3 — Business Combinations
- IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations
- IFRS 6 — Exploration for and Evaluation of Mineral Resources
- IFRS 7 — Financial Instruments: Disclosures
- IFRS 8 — Operating Segments
- IFRS 13 — Fair Value Measurement
- IAS 1 — Presentation of Financial Statements
- IAS 7 — Statement of Cash Flows
- IAS 12 — Income Taxes
- IAS 16 — Property, Plant and Equipment
- IAS 18 — Revenue
- IAS 32 — Financial Instruments: Presentation
- IAS 36 — Impairment of Assets
- IAS 38 — Intangible Assets
- IAS 39 — Financial Instruments: Recognition and Measurement