Australia

Details

  • Service: Audit, Accounting Advisory Services, International Financial Reporting Standards (IFRS)
  • Industry: Financial Services
  • Type: Regulatory update
  • Date: 25/11/2013

IFRS In the Headlines

IFRS In the Headlines
In the Headlines (formerly IFRS Briefing Sheets) provide a timely update on International Financial Reporting Standards (IFRS) developments.

Improving the quality of disclosures (2013/18) 

The European Securities and Markets Authority has published a review of the comparability and quality of disclosures in the 2012 financial statements of 39 European financial institutions.
In the Headlines cover
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ESMA believes that the quality and comparability of IFRS financial statements could be enhanced in these areas:

 

  • structure and content of the income statement
  • liquidity and funding risk, including asset encumbrance
  • hedging and the use of derivatives
  • credit risk, with a focus on credit quality, forbearance practices, non-performing loans and concentrations of risk
  • and criteria used to assess the impairment of equity securities that are classified as available-for-sale.