This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

ESMA publishes 20th enforcement decisions report

  • ESMA (European Securities and Markets Authority) (dark gray) Image
  • European Union Image

05 Jan 2017

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 IFRS 7, IFRS 10, IFRS 12, IAS 1, IAS 8, IAS 12, IAS 16, IAS 17, IAS 32, IAS 36, IAS 37, IAS 38, IAS 39, and IFRIC 4.

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 March 2014 to June 2016, include:

Standard Topic
IFRS 7Financial Instruments: Disclosures Qualitative disclosures of the risks arising from financial instruments
IFRS 12 Disclosure of Interests in Other Entities Disclosure of significant judgements and assumptions in determining the existence of significant influence
IAS 36Impairment of Assets Disclosures relating to determination of value in use
IAS 39Financial Instruments: Recognition and Measurement Recognition of losses on loans upon conversion to shares
IAS 1Presentation of Financial Statements Presentation of equal and opposite gains and losses in the statement of profit or loss and other comprehensive income for the period
IAS 8Accounting Policies, Changes in Accounting Estimates and Errors
IAS 38Intangible Assets
Reclassification of capitalised milestone payments by a pharmaceutical company to the statement of profit or loss
IFRS 10Consolidated Financial Statements Legal requirements that prevent a shareholder from exercising its rights
IFRS 10Consolidated Financial Statements Determining whether an entity is an investment entity
IAS 16Property, Plant and Equipment Depreciation of vessels in the oil and gas industry
IAS 8Accounting Policies, Changes in Accounting Estimates and Errors
IAS 36Impairment of Assets
Application of value in use methodology in impairment testing
IAS 36Impairment of Assets
IAS 37Provisions, Contingent Liabilities and Contingent Assets
Recognition of onerous contract provisions
IAS 36Impairment of Assets Identification of cash-generating units
IAS 8Accounting Policies, Changes in Accounting Estimates and Errors
IAS 17Leases
IAS 32Financial Instruments: Presentation
IFRIC 4Determining whether an Arrangement contains a Lease
Purchase of a car fleet with an agreed buy-back agreement
IAS 12Income taxes Recognition of deferred tax assets for unused tax losses

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.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.