As proposed in CESR Standard No 2 on Financial Information, „Co-Ordination of Enforcement Activities“, CESR has developed a confidential database of enforcement decisions taken by individual EECS members as a source of information to foster appropriate application of IFRS. In response to public comment to the Standard, CESR committed to publish extracts of the database to provide issuers and users of financial statements with similar assistance.
Publication of enforcement decisions informs market participants about which accounting treatments EU National Enforcers may consider as complying with IFRS; that is, whether the treatments are considered as being within the accepted range of those permitted by the standards or IFRIC interpretations. Such publication, together with the rationale behind these decisions, will contribute to a consistent application of IFRS in the European Union.
Topics covered in 9th Extract from EECS’s Database of Enforcement deal with:
Classification of financial liabilities;
Financial instruments – Hedge accounting;
Revenue recognition;
Intangible assets;
Impairment of non-financial assets;
Consolidation;
Share-based payment;
Financial instruments – disclosures; and
Impairment of non-financial assets – disclosures.
Full paper
© CESR - Committee of European Securities Regulators
Key
Hover over the blue highlighted
text to view the acronym meaning
Hover
over these icons for more information
Comments:
No Comments for this Article