ESMA publishes annual report 2011

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25 Jun, 2012

The European Securities and Markets Authority (ESMA) has published its Annual Report for 2011. The report is the authority’s first Annual Report following its creation on 1 January 2011.

The two most noted actions of the ESMA in 2011 were the publication of a discussion paper on materiality entitled Considerations of materiality in financial reporting and the publication of a statement concerning the accounting treatment in relation with sovereign debt exposures in connection with current market developments with special consideration of the accounting treatment of Greek sovereign debt.

All ESMA actions in relation to IFRSs are described in chapter 3.6 of the annual report "Promoting consistent application of International Financial Reporting Standards".

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