16th ESMA enforcement decisions report released

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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:



IAS 1Presentation of Financial Statements
IAS 39Financial Instruments: Recognition and Measurement
IFRS 7Financial Instruments: Disclosures

Disclosure of forborne loans

IFRS 3Business Combinations
IFRS 13Fair Value Measurement

Fair value of consideration paid in shares

IAS 32Financial Instruments: Presentation

Recognition of a liability payable to equity holders

IAS 7Statement of Cash Flows
IAS 16Property, Plant and Equipment
IAS 18Revenue

Presentation of statement of cash flows

IFRS 5Non-current Assets Held for Sale and Discontinued Operations

Presentation of discontinued operations

Presentation of non-current assets held for sale

IAS 12Income Taxes
IFRS 5Non-current Assets Held for Sale and Discontinued Operations

Deferred tax assets upon disposal of a subsidiary

IAS 12Income Taxes
IAS 16Property, Plant and Equipment
IAS 40Investment Property

Accounting for the effects of specific tax regime

IAS 36Impairment of Assets

Key assumptions used in the impairment test of goodwill

IAS 38Intangible Assets
IFRS 6Exploration for and Evaluation of Mineral Resources 

Disclosures related to capitalised costs

IFRS 8Operating Segments

Disclosure of major customers

Click for access to the full report (link to ESMA website).

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