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ESMA publishes report on the activities of accounting enforcers and their findings within the EU in 2015

  • ESMA (European Securities and Markets Authority) (dark gray) Image

29 Mar 2016

The report provides an overview of the activities of the European Securities and Markets Authority (ESMA) and the accounting enforcers in the European Economic Area (EEA) when examining compliance of financial information provided by issuers listed on regulated markets with the applicable financial reporting framework in 2015.

Overall, enforcement actions have been taken against a quarter of the issuers included in the sample of 189 issuers. In many cases, enforcement actions cover several areas of the same set of IFRS financial statements. In relation to the application of the new consolidation package, ESMA and the European enforcers acknowledge the good quality of application of IFRS requirements in the 2014 financial statements. ESMA believes that there is still room for improvement in the application of the IAS 12 requirements related to recognition, measurement and disclosures of deferred tax assets arising from tax losses. Therefore, in light of the economic environment as well as of the fact that the examination is performed on a sample basis, where material, these areas will continue to be analysed in 2016.

Please click to access the full report on the ESMA website.

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