ESMA publishes 21st enforcement decisions report
01 Nov 2017
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 36 (two decisions), IFRS 11/IFRS 10 (two decisions), IFRS 13/IAS 28, IAS 8/IAS 34, IAS 1/IAS 39, IFRS 10, IFRS 13, IAS 39/IAS 37/IAS 18, IAS 12, and IAS 39.
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 June 2015 to February 2017, include:
Standard | Topic |
---|---|
IAS 36 — Impairment of Assets | Country risk premium in impairment test |
IFRS 11 — Joint Arrangements IFRS 10 — Consolidated Financial Statements |
Assessment of joint control |
IFRS 13 — Fair Value Measurement IAS 28 — Investments in Associates and Joint Ventures |
Valuation and equity method for participation with restrictions |
IFRS 11 — Joint Arrangements IFRS 10 — Consolidated Financial Statements |
Assessment of joint control |
IAS 8 — Accounting Policies, Changes in Accounting Estimates and Errors IAS 34 — Interim Financial Reporting |
Restatement of comparative amounts |
IAS 1 — Presentation of Financial Statements IAS 39 — Financial Instruments: Recognition and Measurement |
Disclosures on a reverse factoring transaction |
IFRS 10 — Consolidated Financial Statements | Assessment of control over investment funds |
IFRS 13 — Fair Value Measurement | Fair value measurement disclosures of unobservable inputs |
IAS 39 — Financial Instruments: Recognition and Measurement IAS 37 — Provisions, Contingent Liabilities and Contingent Assets IAS 18 — Revenue |
Recognition and measurement of the proceeds from an arbitration agreement |
IAS 36 — Impairment of Assets | Impairment test of trademarks |
IAS 12 — Income taxes | Recognition of deferred tax assets for carry forward of unused tax losses |
IAS 39 — Financial Instruments: Recognition and Measurement | Definition of ‘economic environment’ and separation of foreign-currency embedded derivatives in a power contract |
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 12 — Income Taxes
- IAS 36 — Impairment of Assets
- IFRS 10 — Consolidated Financial Statements
- IFRS 11 — Joint Arrangements
- IAS 28 — Investments in Associates and Joint Ventures (2011)
- IFRS 13 — Fair Value Measurement
- IAS 8 — Accounting Policies, Changes in Accounting Estimates and Errors
- IAS 34 — Interim Financial Reporting
- IAS 1 — Presentation of Financial Statements
- IAS 39 — Financial Instruments: Recognition and Measurement
- IAS 18 — Revenue