ESMA issues report on the application of IFRS 13

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

12 Jul 2017

The European Securities and Markets Authority (ESMA) has issued a report, “Review of Fair Value Measurement in the IFRS Financial Statements.” The report provides an overview of the application of fair value measurement and disclosure requirements in IFRS 13, “Fair Value Measurements,” as applied by European issuers.

The review focused on four key topics, which included (1) fair value disclosures, (2) unit of account, (3) level of market activity and fair value, and (4) valuation adjustments for derivatives. The review found that the Standard has “generally been well incorporated in the financial statements of the issuers in the sample.” However, the report noted that compliance and comparability in the application of IFRS 13 could improve.

The results of this review will contribute to the IASB’s post-implementation review of IFRS 13.

For more information, see the press release and report on the ESMA’s Web site.

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