The resources listed below - organised chronologically - are the key messages from the European Securities and Markets Authority (ESMA) for the 2017 reporting season. 

In addition to the FRC reminders, the ESMA has also put out its own reminders to reporters as to how to improve the quality of disclosures in financial statements and has also provided an indication of those areas that it (and national enforcers - the FRC in the UK) will be focusing on when reviewing listed companies' 2017 financial statements.  UK companies should consider these enforcement priorities carefully in preparing their 2017 financial statements. 

UK companies with securities traded on regulated markets should follow the ESMA Guidelines on Alternative Performance Measures.  The FRC has indicated that it will be considering the ESMA Guidelines when reviewing company reports and accounts in assessing whether they are fair, balanced and comprehensive.  Frequently asked questions and an updated Q&A document on the Guidelines have been published by the FRC and ESMA respectively to assist directors.  Our Need to know publication also provides useful guidance.