19th ESMA enforcement decisions report released
28 Jul, 2016
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 8, IAS 12, IAS 18, IAS 19, IAS 21, IAS 38, IAS 39, IAS 41, IFRS 2, IFRS 3, IFRS 8, IFRS 11, IFRS 13, IFRIC 14, IFRIC 17, and IFRIC 21.
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 February 2014 to April 2016, include:
Standard | Topic |
---|---|
IAS 39 — Financial Instruments: Recognition and Measurement |
Inflation-related index derivative embedded in a host lease contract |
IFRS 11 — Joint Arrangements |
Classification of a separate vehicle as joint operation based on ‘other facts and circumstances’ |
IAS 21 — The Effects of Changes in Foreign Exchange Rates |
Selection of the appropriate exchange rate when multiple exchange rates are available |
IAS 38 — Intangible Assets |
Presentation of gains arising from the sale of an intangible asset |
IFRS 13 — Fair Value Measurement |
Identification of unobservable inputs |
IFRS 3 — Business Combinations |
Reverse acquisition of a listed shell company |
Disclosure of the amounts of significant categories of revenue | |
IAS 38 — Intangible Assets |
Determination of whether a dealer network acquired in a business combination is an intangible asset with indefinite useful life |
IFRS 13 — Fair Value Measurement |
Exchange of a business for an interest in a subsidiary and subsequent distribution of the acquired subsidiary to owners |
IAS 19 — Employee Benefits |
The determination of the maximum economic benefits available from a pension plan and the measurement of the defined benefit asset |
Measurement of a deferred tax liability relating to biological assets when income tax rates are changing over the assets’ useful lives | |
IFRIC 21 — Levies |
Accounting for contributions to a deposit guarantee fund in the interim financial report |
Click for access to the full report (link to ESMA website). The ESMA has also published an updated overview of all enforcement decisions ever published.
Related Topics
- IFRS 11 — Joint Arrangements
- IFRS 13 — Fair Value Measurement
- IAS 41 — Agriculture
- IAS 8 — Accounting Policies, Changes in Accounting Estimates and Errors
- IAS 18 — Revenue
- IAS 19 — Employee Benefits (2011)
- IAS 21 — The Effects of Changes in Foreign Exchange Rates
- IAS 38 — Intangible Assets
- IAS 39 — Financial Instruments: Recognition and Measurement
- IFRS 2 — Share-based Payment
- IFRS 3 — Business Combinations
- IFRS 8 — Operating Segments
- IFRIC 14 — IAS 19 – The Limit on a Defined Benefit Asset, Minimum Funding Requirements and their Interaction
- IFRIC 17 — Distributions of Non-cash Assets to Owners
- IFRIC 21 — Levies