INTERNATIONAL FINANCIAL REPORTING BULLETIN 2017/01
27 January 2017
The European Securities and Markets Authority (ESMA) has issued a Public Statement identifying enforcement priorities for listed companies’ 2016 financial statements. The Statement is directed at listed companies and their auditors and sets out the areas ESMA and national enforcers will focus on in particular when they examine listed companies’ financial statements in order to promote consistent application of International Financial Reporting Standards (IFRSs) across the European Union (EU).
The Statement identifies the following common priorities, detailing the financial reporting matters that companies should pay attention to:
· Presentation of financial performance;
· Financial instruments: distinction between equity instruments and financial
· Disclosure of the impact IFRS 9 Financial Instruments, IFRS 15 Revenue from
Contracts with Customers and IFRS 16 Leases will have when they become