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  • Service: Audit, IFRS
  • Date: 11/20/2013

Recommendations for financial institutions and beyond 

Following the financial crises, transparency and comparability of the financial statements of financial institutions have gained increased importance for users. To help address this demand, the European Securities and Markets Authority has published a review of the comparability and quality of disclosures in the 2012 financial statements of 39 major European financial institutions.

ESMA expects financial institutions and their auditors to consider the findings of this review when preparing and auditing 2013 IFRS financial statements.

As with ESMA’s recently announced enforcement priorities (PDF 1024KB) for 2013, we expect that regulatory bodies within and outside of Europe will take notice of this report and pay particular attention to these areas of focus.

Improving the quality of disclosures (2013/18)

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ESMA has published a review of the comparability and quality of disclosures in the 2012 financial statements of 39 European financial institutions.

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