CESR Activity Report on IFRS enforcement 2009

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23 Sep 2010

The Committee of European Securities Regulators (CESR) has published its first annual activity report on monitoring enforcement of International Financial Reporting Standards (IFRS) in Europe.

The report shows both an increase in regulators' enforcement activities and greater consistency regarding the actions taken by enforcers. As part of the 2009 IFRS enforcement activities, EU enforcers also identified an overall improvement in the quality of reporting under IFRS, since its adoption in Europe. Nevertheless, the report also presents those areas identified by enforcers on which listed companies are urged to focus further, in order to ensure improvements in the information provided to investors.

For the report, European enforcers performed full review of around 1200 companies' accounts (annual and interim), covering in the region of some 18% of listed entities in Europe. Some 900 accounts were subject to partial review, representing a coverage of 15% of the population of listed entities. The main themes selected by European enforcers were: impairment of assets, financial instruments disclosure, operating segments, going concern, and current/noncurrent classification of liabilities.

Click for CESR's press release (PDF 167k).

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