17th ESMA enforcement decisions report released
22 Jul 2015
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 IAS 1, IAS 11, IAS 27, IAS 28, IAS 36, IAS 39, IFRS 3, IFRS 6, IFRS 10, IFRS 13, and IFRIC 19.
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 February 2012 to November 2014, include:
| Standard | Topic |
|---|---|
|
IAS 27 — Separate Financial Statements |
Extinguishment of debt |
|
IAS 39 — Financial Instruments: Recognition and Measurement |
Impairment charge for a decline in the fair value of available for sale financial assets |
|
IFRS 13 — Fair Value Measurement |
Measurement of financial instruments at fair value |
|
IFRS 3 — Business Combinations |
Fair value measurement in business combination |
|
IAS 1 — Presentation of Financial Statements |
Presentation of financial statements |
|
IAS 11 — Construction Contracts |
Accounting for claims in construction contracts |
|
IAS 36 — Impairment of Assets |
Impairment testing |
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.
Related Topics
- IAS 27 — Separate Financial Statements (2011)
- IAS 28 — Investments in Associates and Joint Ventures (2011)
- IAS 36 — Impairment of Assets
- IAS 39 — Financial Instruments: Recognition and Measurement
- IFRS 3 — Business Combinations
- IFRS 6 — Exploration for and Evaluation of Mineral Resources
- IFRS 10 — Consolidated Financial Statements
- IFRS 13 — Fair Value Measurement
- IAS 1 — Presentation of Financial Statements
- IAS 11 — Construction Contracts
- IFRIC 19 — Extinguishing Financial Liabilities with Equity Instruments
