ESMA publishes report on the activities of corporate reporting enforcers and their findings within the EU in 2022

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

04 Apr, 2023

The report provides an overview of the activities of the European Securities and Markets Authority (ESMA) and the corporate reporting enforcers in the European Union (EU) when examining compliance of financial and non-financial information provided by issuers listed on regulated markets with the applicable financial reporting framework in 2022.

European enforcers examined the financial statements of 640 issuers representing an average examination rate of 16% of all IFRS issuers with securities listed on regulated markets. These examinations resulted in 225 actions taken to address material departures from IFRS.

Enforcers also assessed the non-financial information for 403 issuers, covering approximately 18% of the total estimated number of issuers required to publish a non-financial statement, resulting in 100 enforcement measures.

In both cases, financial reporting and non-financial reporting, ESMA assesses that there is significant room for improvement in disclosures of climate-related matters by issuers.

The report also looks at ESEF reporting as for financial years beginning on or after 1 January 2021, issuers must prepare their annual financial reports according to XHTML requirements and mark-up those IFRS consolidated financial statements contained therein according to iXBRL requirements.

Please click to access the full report on the ESMA website.

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.