18th ESMA enforcement decisions report released

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25 Nov 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 19, IAS 27, IAS 34, IAS 36, IFRS 5, IFRS 10, and IFRS 13.

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 2014 to May 2015, include:


Standard Topic

IFRS 5Non-current Assets Held for Sale and Discontinued Operations

Presentation of licensed activities as discontinued operations

IAS 34 Interim Financial Reporting

Disclosures in interim financial statements

IAS 19Employee Benefits

Disclosures on post-employment benefit plans

IAS 34 Interim Financial Reporting
IAS 1 Presentation of Financial Statements

Going Concern disclosures

IFRS 10Consolidated Financial Statements

Control of an entity without holding any equity interest

IFRS 10Consolidated Financial Statements

De facto control

IAS 36Impairment of Assets

Impairment of goodwill

IFRS 13 Fair Value Measurement

Fair value measurement for fixed-rate loans

IAS 36Impairment of Assets

Carrying amounts of a cash-generating unit to be tested for impairment

IFRS 5Non-current Assets Held for Sale and Discontinued Operations
IAS 27
Separate Financial Statements

Presentation and disclosure of discontinued operations in separate financial statements

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.

Correction list for hyphenation

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