Tuesday November 19 2013

News Source: Global Exchanges

Focus: AIFMD

Type: General




The European Securities and Markets Authority (ESMA) has published a Review of the comparability and quality of disclosures in 2012 IFRS financial statements of listed financial institutions.

The Review makes recommendations aimed at enhancing the transparency of financial statements through the improvement of disclosures in certain key areas including: credit risk and impact of forbearance practices; liquidity and funding risk; asset encumbrance and fair value measurement of financial instruments.

ESMA, while finding that the required disclosures under IFRS were generally observed, also identified broad variations in the quality of the information provided, and found some cases where that was insufficient or insufficiently structured to allow comparability among financial institutions.

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