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 August 2012 to March 2014, include:
Standard | Topic |
IAS 1 — Presentation of Financial Statements IAS 39 — Financial Instruments: Recognition and Measurement IFRS 7 — Financial Instruments: Disclosures
|
Disclosure of forborne loans
|
IFRS 3 — Business Combinations IFRS 13 — Fair Value Measurement
|
Fair value of consideration paid in shares
|
IAS 32 — Financial Instruments: Presentation
|
Recognition of a liability payable to equity holders
|
IAS 7 — Statement of Cash Flows IAS 16 — Property, Plant and Equipment IAS 18 — Revenue
|
Presentation of statement of cash flows
|
IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations
|
Presentation of discontinued operations
Presentation of non-current assets held for sale
|
IAS 12 — Income Taxes IFRS 5 — Non-current Assets Held for Sale and Discontinued Operations
|
Deferred tax assets upon disposal of a subsidiary
|
IAS 12 — Income Taxes IAS 16 — Property, Plant and Equipment IAS 40 — Investment Property
|
Accounting for the effects of specific tax regime
|
IAS 36 — Impairment of Assets
|
Key assumptions used in the impairment test of goodwill
|
IAS 38 — Intangible Assets IFRS 6 — Exploration for and Evaluation of Mineral Resources
|
Disclosures related to capitalised costs
|
IFRS 8 — Operating Segments
|
Disclosure of major customers
|
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