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  • New BDO IFR Bulletin available – ESMA Public Statement: European Common Enforcement Priorities for 2016 Financial Statements

New BDO IFR Bulletin available – ESMA Public Statement: European Common Enforcement Priorities for 2016 Financial Statements

05 January 2017

Now available from the BDO Global website is a new BDO IFR Bulletin.

IFRB 2017 01 ESMA Public Statement: European Common Enforcement Priorities for 2016 Financial Statements

Summary

This IFRB summarises the recent public statement made by the European Securities and Markets Authority (ESMA) setting out the enforcement priorities for listed companies’ 31 December 2016 financial statements.  As well as highlighting the need for transparency in disclosing the potential impact of the United kingdom’s referendum in June 2016 and the decision to leave the European Union (“Brexit”) on issuers’ financial statements, the Public Statement identifies the following common priorities, detailing the financial reporting matters that companies should pay attention to when preparing their next financial statements:

  • Presentation of financial performance;
  • Financial instruments: distinction between equity instruments and financial liabilities; and
  • Disclosure of the impact IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases will have when they become effective.

Please click here to be redirected to the BDO Global website to access the suite of BDO IFR Bulletins.