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ESMA publishes 21st enforcement decisions report

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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 11Joint Arrangements
IFRS 10Consolidated 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 11Joint Arrangements
IFRS 10Consolidated Financial Statements
Assessment of joint control
IAS 8Accounting Policies, Changes in Accounting Estimates and Errors
IAS 34Interim Financial Reporting
Restatement of comparative amounts
IAS 1Presentation of Financial Statements
IAS 39Financial Instruments: Recognition and Measurement
Disclosures on a reverse factoring transaction
IFRS 10Consolidated Financial Statements Assessment of control over investment funds
IFRS 13 Fair Value Measurement Fair value measurement disclosures of unobservable inputs
IAS 39Financial Instruments: Recognition and Measurement
IAS 37Provisions, Contingent Liabilities and Contingent Assets
IAS 18Revenue
Recognition and measurement of the proceeds from an arbitration agreement
IAS 36 — Impairment of Assets Impairment test of trademarks
IAS 12Income taxes Recognition of deferred tax assets for carry forward of unused tax losses
IAS 39Financial 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.

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